ANZ National Bank Limited (ANZN) and ING (NZ) Limited (ING)
Misleading representations about the degree of risk when when promoting and marketing the ING Diversified Yield Fund (DYF) and the ING Regular Income Fund (RIF). $45 million in refunds to affected investors.
Case Details
Parties
ANZ National Bank Limited (ANZN) and ING (NZ) Limited (ING)
Category
Consumer
Sub-category
Act/Section
Fair Trading Act 1986 10, 13(a), 13(b), 13(e)
Industry
Financial and insurance services
Status
Closed
Outcome
Settlement
Case Number
Date opened
22 June 2010
Date closed
22 June 2010
Contact person