The Commonwealth Director of Public Prosecutions ("CDPP") has sensationally walked away from the highest profile criminal case in the financial services sector in recent memory after three and a half years of vigorous court battles. The prosecution's case had been mired in allegations of serious defects in the investigation conducted by the Australian Competition and Consumer Commission ("ACCC"). Key takeaways The CDPP has abandoned the high profile banking cartel prosecution only months before the case was due to be tried before a jury. While the CDPP is not required to provide reasons for its decision, the accused had repeatedly raised questions regarding deficiencies in the criminal investigation that preceded the laying of criminal charges. The collapse of this prosecution should
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