ANZ is facing civil penalty proceedings in the Federal Court of Australia over an alleged continuous disclosure breach in relation to a A$2.5 billion institutional share placement undertaken by the bank in 2015.The bank and its group treasurer Rick Moscati are already facing criminal charges over the same capital raising. The ACCC charged ANZ and Moscato in June over alleged cartel conduct. Deutsche Bank and Citigroup, and senior Citi executives John McLean and Itay Tuchman along with former Deutsche executive Michael Richardson are also defendants in the criminal proceedings.ASIC said on Friday that the civil proceedings related to ANZ communications via the ASX on 6 and 7 August 2015. Shayne Elliott, now managing director of the bank, was ANZ's chief financial officer at the time.ASIC said it alleges that that ANZ "contravened s.674(2) of the Corporations Act by failing to notify the Australian Securities Exchange that approximately $791 million of the $2.5 billion of ANZ shares offered in the placement was to be acquired by its underwriters rather than placed with investors."In documents lodged with the court ASIC said "the harm alleged is [that] the market was deprived of information which the Act intended should have been available to it."The contravention arising from ANZ's failure to notify the ASX of the Underwriter Acquisition and/or that the Underwriters had been allocated and were to acquire a significant proportion of the Placement Shares materially prejudiced the interests of purchasers or disposers of ANZ Shares  … [and] was serious."