September 25, 2018 / 2:30 AM / in a month

Australia's corporate watchdog finds "unacceptable" delays by banks in reporting & remediating law breaches

SYDNEY, Sept 25 (Reuters) - Australia’s corporate regulator said on Tuesday that it found the way in which the country’s four largest banks and largest listed wealth manager reported and remediated legal breaches was “unacceptable”.

The review of legal compliance included Commonwealth Bank , Westpac Banking Corp , Australia and New Zealand Banking Group, National Australia Bank , and AMP Ltd.

The Australian Securities & Investments Commission (ASIC) said was actively considering enforcement action for failures to report legal breaches on time. (Reporting by Paulina Duran; Editing by Eric Meijer)

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