ANZ has agreed to a record $240 million penalty for widespread misconduct, including misleading the government and neglecting vulnerable clients, marking the largest penalty by the Australian Securities and Investments Commission (ASIC) against a single entity. The misconduct spans multiple cases, prompting calls for urgent reforms in ANZ’s risk and compliance culture, as acknowledged by both ASIC and bank executives.
Want More Context? 🔎
Loading PerspectiveSplit analysis...
