ANZ Bank to review involvement in securities lending, collapse...

ANZ Bank to review involvement in securities lending, collapse of Opes Prime

By Lyndal McFarland
Last update: 6:23 a.m. EDT April 14, 2008
SYDNEY (MarketWatch) -- Australia and New Zealand Banking Group Ltd. (ANZ.AU) Chief Executive Mike Smith said Monday he will lead a review of the group's involvement in securities lending and the collapse of Opes Prime Group Ltd.
"We will review our involvement in the securities lending business and the events surrounding the Opes Prime issue to ensure that all our processes and practices meet the highest ethical, risk management and regulatory compliance standards which our shareholders and the community expect of ANZ," Smith said in a statement.

"The review will examine what has transpired, the accountability that ANZ and individual staff members might have for what has occurred, and a remedial program to swiftly address all the issues we identify," he said.
He said ANZ will continue to work with regulators on the issue and the bank plans to report publicly on the key conclusions of the review and any resulting remedial actions.
-Contact: 201-938-5400

Comment

Smith Mike Smith announcing the decision to conduct a review

Note the below:

highest ethical, risk management and regulatory compliance standards which our shareholders and the community expect

What he didn't add , in this writers view...is he was dis-genuine

And would cynically drag the matter out as far as legally possible

Why not publish the full report Mr Smith mike smith