Australia’s financial sector will pay customers $7.2bn for wrongdoing, 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 widespread misconduct in the sector was first uncovered.

The regulator launched a new regulatory guide for remediation programs on Tuesday that Chester said she hoped “draws a line in the sand” for Asic.

Read more at The Guardian