Banks tipped to settle as ASIC prepares fresh wave of lawsuits
The deputy chairman of the corporate watchdog expects major financial institutions will admit to wrongdoing and settle litigation as the regulator prepares to launch a fresh wave of lawsuits triggered by the Hayne royal commission.
Daniel Crennan QC, the second in command at the Australian Securities and Investments Commission, revealed most legal cases against the banks and other financial firms over misconduct will be underway by the end of the year, with fresh action coming “quite soon.”
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