No Cost to Taxpayers From Bond Scandal: ANZ Head

Taxpayers have not been slugged following misconduct by ANZ employees, the bank’s head said. ANZ chief executive Shayne Elliott has told a parliamentary inquiry into the big four banks there would be consequences across the company for misconduct, including possible pay cuts. The bank was investigated by the corporate regulator for incorrectly submitting monthly secondary bond turnover data to the federal government in 2023. Elliott said there had not been any additional cost for taxpayers despite the bond trading scandal. “There has been speculation that potential misconduct by ANZ in connection with this issuance may have cost taxpayers,” he told the committee on Aug. 30....