News Release

For release: 17 March 2017

ANZ comments on ASIC review into financial advice

ANZ today commented on the release of the Australian Securities & Investments Commission's (ASIC) review into how large institutions oversee financial advisers.

ANZ Group Executive Wealth Australia Alexis George said: "We know we need to work harder to maintain the trust of our customers and we will continue to take a hard-line approach with the minority advisors who do the wrong thing.

"This is why we engaged independent external experts to both test and endorse our advice compliance systems and also why our existing audit checklist addresses each element of the best interest duty.

"While we were surprised by the findings within the review relating to internal audits across the industry, we will work closely with ASIC to better understand and address any concerns specific to ANZ," Ms George added.

For media enquiries contact:

Nick Higginbottom, +61 403 936 262

Francesca Rizzo, + 61 481 014 224

Australia and New Zealand Banking Group Limited ABN 11 005 357 522

ANZ - Australia & New Zealand Banking Group Ltd. published this content on 17 March 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 17 March 2017 02:08:08 UTC.

Original documenthttp://phx.corporate-ir.net/external.file?t=2&item=o8hHt16027g9XhJTr8+weNRYaV9bFc2rMd0Q/AXw4zuh/gBUkKdOzjbxfZ4gYQc4ZsFh11+jQ6vEZ3PsL0Z1UQkh6o5SBqMEwOOetjiQMVIUEuaxbY4n8/IfcFQnEwbhyVpLCJVswvnjIr9VgQjrZw==&cb=636253125255030249

Public permalinkhttp://www.publicnow.com/view/64C85CB5964AB40A6428B2212F6C58B9363940E9