Royal Commission report sparks conduct risk changes at ANZ

Regulators must work with banks on conduct risk rules to avoid “box-ticking exercise”

ANZ Bank headquarters, Melbourne
ANZ headquarters, Melbourne
Photo: Charles Van den Broek/Flickr

Australia’s Royal Commission enquiry into conduct failings in the financial sector has already led to significant changes in the way ANZ incentivises its client-facing staff to prevent a repeat of such missteps, a senior op risk manager at the bank said today (May 28). But while key jurisdictions such as Singapore draw up stricter rules on personal conduct, some lenders are advising against an overly prescriptive approach.

The past year has seen multiple high-level resignations among Australia

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