ANZ Bank Fined $250M for Misconduct
Update: 2025-12-19
Description
ANZ Group, a major Australian bank, has been fined a staggering $250 million by a Federal Court for misconduct in handling a $14 billion government bond deal and inaccurate reporting. The penalty, resulting from four court proceedings, includes a record $80 million for unconscionable conduct. ASIC Chair Joe Longo emphasizes the severity of ANZs actions, urging the bank to overhaul its risk management practices and prioritize customer interests.
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