The head of Australia’s corporate regulator has made a startling personal admission while tearing into ANZ for years of misconduct.

Appearing on ABC’s 7.30, Australian Securities and Investments Commission (ASIC) chair Joe Longo confirmed that he does, “bank with ANZ”.

The revelation came as he accused the bank of betraying Australians through systemic failures.

When pressed by host Sarah Ferguson on whether he planned to move his money, Mr Longo declined to answer directly but admitted, “I feel very let down as a regulator”.

ASIC has accused ANZ of “unconscionable conduct” in four separate proceedings, with the watchdog seeking a $240 million fine, the largest penalty it has ever asked a court to impose on a bank.

The breaches include misleading the government on a $14 billion bond d

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