ANZ will pay a fine of $240 million to settle a case brought by the corporate regulator, in which it has admitted to engaging in unconscionable conduct in incorrectly reporting bond trading data to the federal government, as well as widespread misconduct at its retail bank affecting tens of thousands of customers.
ANZ and the Australian Securities and Investments Commission will ask the Federal Court to impose penalties of $240 million relating to four separate proceedings across its retail and institutional banking divisions.
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