Tag: CBA

April 02, 2021 BY Steffy Bogdanova

CBA sued by ASIC over misleading conduct

The incorrect fees have been found to be a result of manual errors executed by CBA staff members, as well as improperly configured or inadequate processes and systems which dismissed the fact that a vast number of customers were entitled to waivers on any fees. CBA was also found to have produced misrepresented justifications of…

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Forex Weekly Look Back
June 26, 2020 BY Steffy Bogdanova

Forex Weekly Look Back: Andrey Dashin launches Exinity Group, ActivTrades expects record revenues in H1 2020

The Italian Banking Association (ABI) has shown its willingness to support a digital currency from the European Central Bank. The ABI has approved official guidelines for governing a Central Bank Digital Currency (CBDC). The Executive Committee of the ABI has agreed on ten fundamental criteria to issue the digital euro. London Stock Exchange Group (LSEG) announced…

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Commonwealth Bank Alan Docherty
October 15, 2018 BY Valentina Kirilova

Commonwealth Bank names Alan Docherty Chief Financial Officer

Commonwealth Bank (CBA) has announced the appointment of Alan Docherty as Chief Financial Officer. Mr Docherty has been Acting Chief Financial Officer since May 2018. Prior to this, Mr Docherty was Chief Financial Officer of the Institutional Banking and Markets division and held senior roles in Group Finance, Group Treasury and the Business and Private…

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ASIC office
July 11, 2018 BY Valentina Kirilova

ASIC accepts court enforceable undertaking from CBA

Commonwealth Bank of Australia (CBA) informed that it has entered into a court enforceable undertaking with Australian regulator ASIC in relation to their bank bill trading business and their participation in the setting of the Bank Bill Swap Rate (BBSW), a key benchmark and reference interest rate in the Australian financial system. As part of…

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December 21, 2016 BY Valentina Kirilova

Spot FX problems lead to sanctions on Australian banks NAB and CBA

ASIC has today accepted enforceable undertakings (EUs) from each of the National Australia Bank Limited (NAB) and the Commonwealth Bank of Australia (CBA) in relation to the banks’ wholesale spot foreign exchange (FX) businesses. As a result of ASIC’s investigation, ASIC is concerned that between 1 January 2008 and 30 June 2013, both banks failed…

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