ANZ 0.36% $27.75 australia and new zealand banking group limited

I suspect it was also in part to get hold of shares held by Opes...

  1. 4,770 Posts.
    I suspect it was also in part to get hold of shares held by Opes but as they would say not 'collateralised' or borrowed against. I think the idea was to broaden the scope but I don't know but at 10 March Opes was saying they were unable to use Super shares as collateral but then some stage after the $95m the ANZ came in and pinched the shares and sold them without valid title and despite 'Superannuation' written all over them.

    If the ANZ can keep Super shares to satisfy a debt- here as a 3rd party - then the Superannuation system is at risk and no one is safe.

    What next? Overdraw your bankcard and they pinch your Super?
 
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