Australian bank ANZ has been hit by a record A$240m ($160m) fine by the country’s financial watchdog after admitting to misconduct across a range of its businesses.

In what is a record fine by the Australian Securities and Investments Commission, ANZ was accused of “widespread misconduct” for a number of issues, including its handling of a bond sale within its institutional division and a range of problems across its retail unit that affected 65,000 customers.