CBA bosses share shame blame

Original article by Joyce Moullakis
The Australian – Page: 19 & 23 : 21-Nov-18

Commonwealth Bank of Australia CEO Matt Comyn and chair Catherine Livingstone appeared before the financial services royal commission on 20 November. Comyn conceded that the bank should have been aware of its legal obligations regarding antimoney-laundering laws, while Livingstone said the CBA board had failed to act on audit reports which had raised concerns well below Austrac took legal action. Comyn also told the inquiry that predecessor Ian Narev had dismissed his concerns about the sale of so-called "junk" consumer insurance products.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, AUSTRALIA. ATTORNEY-GENERAL’S DEPT. AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, MORGAN STANLEY AUSTRALIA LIMITED

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