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ANZ under fire from NZ regulator, government over risk controls, governance

G20 Intel > ANZ under fire from NZ regulator, government over risk controls, governance

ANZ under fire from NZ regulator, government over risk controls, governanceWELLINGTON/SYDNEY (Reuters) – New Zealand’s deputy prime minister on Monday called on the chairman of the local unit of Australia and New Zealand Banking Group to step down as regulators ramped up pressure on the lender to boost its internal risk controls and governance. Deputy Prime Minister Winston Peters said ANZ Chairman John Key, a former prime minister under the opposition National Party, should resign as he found himself at the centre of questions about governance practices at the bank. Hours earlier, New Zealand’s central bank asked ANZ to provide independent proof it’s operating in a prudent manner in the wake of last month’s censure of the lender.

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