The regulator alleged that the bank has not adequately fixed the problem and that customers continue to be affected. Between May 2016 and September 2021 ANZ also made false and misleading representations regarding withdrawal fees. According to the regulator, the bank continued with the misleading representation even after that period. Court added: This alleged misconduct…
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The new joint-venture with ANZ Bank will also Worldline to significantly expand its merchant acquiring business outside of Europe. It will provide the company direct access to an existing merchants’ portfolio. The company stated in the official announcement: The combination of ANZ’s strong market position and Worldline’s global scale, best-in-class technologies and payment expertise will…
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CMC Markets has decided to split into a leveraged division which consists of the leveraged trading and spreading business part of the business and into a non-leveraged arm which includes technology and new investment products platforms. The news of the separation follows the news of CMC Markets lowering its expectations for operating income in the…
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Margaret Law, Head of Client Management, APAC at CLS, commented: With the growth of FX trading particularly in Asian currencies, settlement risk has become an increasing concern for banks in the region, and it is essential that they consider executing appropriate FX settlement risk mitigation measures. We anticipate that other banks in Asia Pacific will…
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ANZ has admitted that it lacked any contractual entitlement to charge those fees. With these fee charges, ANZ contravened with the Australian Securities and Investments Commission Act (ASIC Act) and breached its general obligations. The court ordered the bank to pay a penalty in the amount of $10 million. ASIC Deputy Chair Daniel Crennan QC…
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The Australia and New Zealand Banking Group Limited (ANZ) has announced on Friday (March 22) that it has completed its $3 billion on-market share buy-back with 108.7 million ordinary shares purchased under the program that commenced in January 2018. This equates to approximately a 3.7% reduction in ordinary shares on issue. ANZ Chief Financial Officer…
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ANZ has just announced the appointment of Mitchell Mason as CEO Japan, reporting to Farhan Faruqui, Group Executive, International. Mr Mason brings 18 years of banking experience to ANZ, having worked previously at Bank of America Merrill Lynch and Deutsche Bank. Prior to joining ANZ, he was Managing Director, Japan Chief Operating Officer, and Member…
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The Australia and New Zealand Banking Group Limited (ANZ) has announced a new way for customers to access cash on the go, using only their smartphone or watch at 2,400 ATMs across Australia. ANZ customers will be able to withdraw cash from ANZ ATMs using their preferred mobile payments device instead of plastic cards across…
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Australian regulator ASIC has today commenced civil penalty proceedings in the Federal Court of Australia against Australia and New Zealand Banking Group Limited (ANZ) for an alleged continuous disclosure breach in relation to a $2.5 billion institutional share placement undertaken by the ANZ in 2015. On 6 August 2015, ANZ issued a release to the…
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ANZ has announced the appointment of Jodi West as CEO Vietnam, reporting to Farhan Faruqui, ANZ Group Executive, International. Ms West joined ANZ in 2015 as Head of Institutional FX Sales, Australia. Prior to ANZ, she held roles in the FX & Commodity sales team at both Citigroup and Barclays, and was also Head of…
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