Informed Consumers Enforcement Actions Register

ANZ National Bank Limited (ANZN) and ING (NZ) Limited (ING)

Parties	ANZ National Bank Limited (ANZN) and ING (NZ) Limited (ING)
Sections	Fair Trading Act 10, 13(a), 13(b), 13(e)
Description	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). Questions and answers published on 21 July 2010 are available at Fair Trading/Enforcement Outcomes
Resolution	Settlement, $45 million in refunds to affected investors
Year	2010
Downloads	Commerce Commission ANZ National Bank Limited ING NZ Limited Deed of Settlement Regarding Commerce Commission Investigation Into ING Diversified Yield Fund And Regular Income Fund 22 June 2010 Adobe Acrobat PDF (72 KB) Commerce Commission investigation summary into the promotion marketing and distribution of the ING Diversified Yield Fund and Regular Income Fund June 2010 Adobe Acrobat PDF (84 KB) ING NZ Limited ANZ National Bank Limited Response to Commerce Commissions report on its investigation into promotion marketing and distribution of DYF RIF June 2010 Adobe Acrobat PDF (62 KB)