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Australia's ANZ removes sales incentives for financial planning bonuses


“We know it has taken too long for changes to occur, so where we see solutions we will act. That is why we are getting on with these initiatives now,” Chief Executive Shayne Elliott said in the statement.

“We know it has taken too long for changes to occur, so where we see solutions we will act. That is why we are getting on with these initiatives now,” Chief Executive Shayne Elliott said in the statement.

Australia and New Zealand Banking Group Ltd <ANZ.AX> said on Monday it would remove sales incentives for financial planning bonuses, in a move that comes amid intense scrutiny of Australia's financial sector.

The lender would also terminate the employment of financial planners who provide inappropriate advice, it said in a statement.

Corporate News , Banking

   

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