Overview

• The A$240 million penalty — the largest ASIC has announced against a single entity — covers five matters across markets and retail, with about A$125 million tied to institutional issues and A$115 million to customer failings.
• ASIC found ANZ acted unconscionably while managing a A$14 billion government bond issuance and misreported turnover data for nearly two years, conduct the regulator said could have reduced government funding.
• Retail breaches included unpaid bonus interest, misleading statements about savings rates, failures to respond to hardship notices, and fees charged to thousands of deceased customers, affecting roughly 65,000 people.
• The settlement requires Federal Court approval; ANZ will file a Root Cause Remediation Plan with APRA by September 30 and expects to spend about A$150 million implementing fixes in fiscal 2026.
• Chair Paul O’Sullivan and CEO Nuno Matos apologized, said executives have faced pay consequences, and ANZ offered to return duration‑manager revenue to the AOFM as a goodwill gesture.