ANZ Fined $160 Million After Admitting Widespread Misconduct

ANZ Group Holdings Ltd. will pay a A$240 million ($160 million) fine after admitting misconduct across its institutional and retail divisions, the culmination of a months-long investigation by the corporate watchdog.

The lender overstated bond trading volumes by “tens of billions of dollars” and engaged in “widespread misconduct” across products and services impacting nearly 65,000 customers, according to a statement from the Australian Securities & Investments Commission on Monday.