Foreign regulators focus on CBA

Original article by Michael Roddan
The Australian – Page: 17 & 22 : 30-Aug-17

The Australian Prudential Regulation Authority’s inquiry into the Commonwealth Bank of Australia continues to weigh on the banking sector. There is concern that CBA may come under scrutiny by APRA’s overseas counterparts in the wake of its money-laundering scandal. Credit Suisse has reduced its share price target for CBA by 10 per cent and warned of a governance crisis at the bank. Brian Johnson of CLSA notes that CBA could potentially incur much harsher penalties in offshore jurisdictions for breaching money laundering laws than in Australia.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, CREDIT SUISSE (AUSTRALIA) LIMITED, CLSA AUSTRALIA PTY LTD, ARGO INVESTMENTS LIMITED – ASX ARG, COMMINSURE, STORM FINANCIAL LIMITED, MOODY’S INVESTORS SERVICE INCORPORATED, AUSTRALIA. ATTORNEY-GENERAL’S DEPT. AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE, FEDERAL COURT OF AUSTRALIA, HONG KONG (CHINA). MONETARY AUTHORITY, SINGAPORE. MONETARY AUTHORITY

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s