The Australian Securities and Investments Commission is preparing to launch legal action against ANZ over manipulation of the bank bill swap rate between 2007 and 2013, the Australian Financial Review reports. ASIC has undertaken a review of BBSW in the wake of interbank rate-rigging scandals in other markets. The regulator is due to release the results of its investigation in the next few weeks. The New Zealand Bankers Association has appointed Karen Scott-Howman as its chief executive. Scott-Howman is moving from the Broadcasting Standards Authority, where she has been CEO. She has worked at the NZBA previously as regulatory director and head of advocacy.