Australia's corporate regulator to interview CBA executives -AFR
(Adds quote from CBA spokeswoman)
SYDNEY, March 5 (Reuters) - Australia's corporate regulator
is interviewing top executives at the Commonwealth Bank of
Australia as part of an investigation into alleged
failure to prevent possible money laundering, the Australian
Financial Review (AFR) reported on Tuesday.
CBA in 2018 agreed to a civil penalty of A$700 million
($496.23 million) to settle charges bought by Australia's
financial intelligence agency.
CBA admitted in part to failing to identify, monitor and
report money transfers over A$10,000 ($7,566), in contravention
of anti-money laundering and counter-terrorism laws.
Without citing any sources, the AFR said the Australian
Securities and Investments Commission (ASIC) had accelerated a
separate investigation, with plans in place to interview CBA's
chairman, Catherine Livingstone, and former chief executive, Ian
It was not clear whether either Narev or Livingstone had
been interviewed yet.
A spokeswoman for CBA declined to comment on the specific
details of the report.
"CBA continues to engage with ASIC regarding a number of
matters and responds to requests made by the regulator. We won't
be commenting on any individual matter," said the spokeswoman.
ASIC declined to confirm or deny the report.
"ASIC never comments on operational issues and that includes
whether we are interviewing certain individuals," said Matthew
Abbott, a spokesman for ASIC.
The report comes just weeks after the release of a special
government-appointed inquiry that excoriated Australia's
financial sector for misconduct.
Two dozen cases were referred to regulators for possible
($1 = 1.4106 Australian dollars)
(Reporting by Colin Packham; Editing by Tom Brown and
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