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Australia’s securities regulator sues ANZ over home loan referrals -Breaking

© Reuters. FILE PHOTO : Commuters stroll past an ANZ Bank branch in Sydney (Australia), April 23, 2018. REUTERS/Edgar Su

(Reuters) – Friday’s Australian Securities and Investments Commission (ASIC), announced that legal proceedings were initiated against Australia and New Zealand Banking Group, for home lone referals under its introducer program.

The regulator added that between June 2016 and March 2018, ANZ breached consumer protection credit laws by accepting customer information and documents from introducers and other unlicensed individuals, when this was not allowed.

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Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.