For six weeks now, former Westpac director David Crawford, has been conducting a full examination of ANZ’s securities lending activities and its involvement with Opes. Smith, according to press reports, has promised to act on and release its findings.
The involvement of Crawford makes this review genuine and unpredictable. It will clearly not be a whitewash and Smith can have no idea what Crawford might come up with.
Six weeks have passed...still nothing on the report...me thinks ANZ underestimated the extent of the 'problems' being unearthed in its involvement with Opes. Lawyers for ANZ will no doubt try and gag the findings...but Smith has 'promised' to release the findings. This could be Smith's chance to come clean and do the right thing for once.
crawford report
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