ANZ, Citigroup and Deutsche Bank have been charged with criminal cartel conduct over a multi-billion-dollar capital raising following a consumer watchdog investigation.
Six senior executives at the firms have also been charged: John McLean, Itay Tuchman and Stephen Roberts of Citigroup; Michael Ormaechea and Michael Richardson formerly of Deutsche Bank; and Rick Moscati of ANZ.
The Australian Competition and Consumer Commission (ACCCC) confirmed on Tuesday that the Commonwealth Director of Public Prosecutions had brought the charges against the three firms after last week flagging it would take action.
ANZ and its advisers Deutsche Bank and Citigroup face charges over the $2.5 billion capital-raising in 2015 from institutional investors.
In a statement, the ACCC said the charges involved alleged cartel arrangements relating to trading in ANZ shares held by Deutsche Bank and Citigroup.
"ANZ and each of the individuals are alleged to have been knowingly concerned in some or all of the alleged conduct," the statement said.
"These serious charges are the result of an ACCC investigation that has been running for more than two years," ACCC Chairman Rod Sims said.
The matter is listed before the Downing Centre Local Court in Sydney on July 3.
All three banks have said they would fight the charges.
It comes as the banking sector is the subject of a long-running royal commission that has heard wide-ranging instances of misconduct or poor practice by lenders.
Additional reporting: AFP
