Banks under fire: investigations laid bare by regulator

Original article by Ben Butler
The Australian – Page: 17 & 21 : 30-Jan-19

Documents released by the financial services royal commission show that the Australian Securities & Investments Commission’s enforcement committee approved the prosecution of National Australia Bank for breaching its financial services licence in June 2018. The committee found that NAB had repeatedly failed to comply with laws requiring it to report serious breaches of its licence within 10 days. NAB’s compliance record also came under scrutiny by the royal commission in August.

CORPORATES
NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, RIO TINTO LIMITED – ASX RIO, TENNIS AUSTRALIA, FEDERAL COURT OF AUSTRALIA, TRIO CAPITAL LIMITED, MACQUARIE GROUP LIMITED – ASX MQG, VAN EYK CAPITAL PTY LTD, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

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