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24 Apr 2018 (AFR) – ANZ’s wealth sale driven by compliance breaches

(24 April 2018, AFR, p6, by James Frost)

‘ANZ’s decision to get out of the wealth business was driven by widespread compliance failures by its financial planners that the bank had identified as high risk as far back as 2013, the Hayne royal commission has heard. A business risk and compliance committee identified in late 2013 that ANZ’s financial planners were failing to provide advice that was in the best interests of clients. The committee was chaired by ANZ’s executive general manager of risk and compliance Stephen Blood.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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