The compensation banks and other financial institutions will pay as a result of their wrongdoing towards customers will reach $7.2bn, the corporate regulator says. The deputy chair of the Australian Securities and Investments Commission, Karen Chester, said the regulator wanted to stop its hands-on involvement in remediation schemes – a program that’s been under way since the mid-2010s, when...
Australia’s financial sector will pay customers $7.2bn for wrongdoing, regulator says
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