ANZ, Westpac agree to A$3M payments over FX trading that ASIC deemed inappropriate

Wed, 15 Mar 2017

By Sophie Boot March 15 (BusinessDesk) - Australia and New Zealand Banking Group and Westpac Banking Corp have entered into enforceable undertakings to change their practices after the Australian regulator found inappropriate conduct in their wholesale foreign exchange businesses, following peers National Australia Bank and Commonwealth Bank. Each bank will pay A$3 million to Financial Literacy Australia under the deal with the Australian Securities and Investments Commission (ASIC). The agreements round out action taken by ASIC against A...

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