The Federal Court of Australia has issued orders concerning the settlement between Australia and New Zealand Banking Group (ANZ) and the Australian Securities and Investments Commission (ASIC). The settlement addresses five issues within ANZ’s Australian Markets and Australia Retail businesses that were previously under separate regulatory investigations.
Under the terms of the agreement, ANZ will pay civil penalties totaling $240 million, as outlined in a media release on September 15, 2025. The bank will also cover ASIC’s legal costs.
In its recent decision, the Court imposed an additional $10 million penalty on ANZ for submitting inaccurate monthly secondary bond turnover data to the Australian Office of Financial Management. This increases the penalty for this specific matter from $40 million to $50 million.
For the other matters under investigation, the Court confirmed penalties in line with what was agreed between ANZ and ASIC. The total amount of penalties now stands at $250 million.
According to ANZ, “The financial impact of the revised civil penalties and ASIC’s costs are almost wholly covered by existing provisions, including a $240 million penalty provision.”
ANZ stated it is working to improve how it manages non-financial risks across its operations. A dedicated program is underway as part of its Root Cause Remediation Plan. Additionally, an ASIC Matters Resolution Program has been set up within Australia Retail to fulfill commitments made to ASIC for improvements in several areas. Both initiatives will be reviewed by Promontory, an independent expert appointed to assess progress and delivery.
For more details about the initial agreement reached in September 2025, see https://www.anz.com.au/newsroom/media/2025/september/asic-settlement-on-australian-markets-and-retail-matters--agreem/.