Supervisors from corporate watchdog will be stationed inside Australia’s biggest financial institutions as part of crackdown

Asic officials will be “embedded” inside Australia’s five biggest financial institutions – Commonwealth Bank, Westpac, NAB, ANZ and AMP Capital – under a $70m plan to improve monitoring of their governance and compliance.

The corporate regulator will also establish a taskforce to identify failings inside large listed companies, and conduct on-site surveillance and investigations of those companies.

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