Regulatory Alerts2025-12-19
Federal Court orders $250 million combined penalties against ANZ
The Federal Court has ordered Australia and New Zealand Banking Group Limited (ANZ) to pay $250 million in penalties for widespread misconduct and systemic risk failures affecting the Australian Government, taxpayers, and at least 65,000 retail bank customers. The penalties address four separate matters including unconscionable conduct in managing a $14 billion government bond deal, inaccurate reporting of bond market data, failure to respond to customer hardship notices, and false statements regarding savings interest rates. This outcome represents the largest combined penalties ever secured by ASIC against a single entity and underscores the regulator's demand for ANZ to overhaul its non-financial risk management practices.
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