March 15, 2017 BY LeapRate Staff

Westpac and ANZ cited for FX inadequacies including confidential order leaks

Australia financial regulator ASIC has today accepted enforceable undertakings from Westpac Banking Corporation (WBC:ASX) and Australia and New Zealand Banking Group (ASX:ANZ) in relation to the banks' wholesale foreign exchange (FX) businesses. As a result of ASIC’s investigation, ASIC is concerned that between January 2008 and June 2013 both banks failed to ensure that their…

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