A Most Satisfying Spectacle
There are few things more satisfying than watching a colossal bank get a proper dressing down from the regulators. When ANZ was slapped with a record £165 million penalty, I suspect more than a few of us felt a flicker of grim satisfaction. But once the schadenfreude subsides, a rather interesting question emerges. When a bank pays a nine-figure fine for its failings, who, precisely, gets paid?
The answer, it seems, isn't just the Treasury. The real winners might be the companies selling the digital shovels in this new compliance gold rush. That massive fine wasn't just a penalty, it was a starting pistol. It sent a shockwave through every financial boardroom from London to Singapore, sparking a frantic, chequebook-waving panic to avoid being the next one in the stocks. For investors, I think this kind of predictable panic can create some compelling opportunities.