Or this.........
ASIC drops bombshell on NABThe corporate regulator has dropped a bombshell on National Australia Bank the day before its new chairman, Philip Chronican, and chief executive, Ross McEwan, front their first annual general meeting.
The Australian Securities and Investments Commission alleges the bank has broken the law more than 10,000 times, leaving it exposed to a theoretical maximum penalty of almost $10 billion.
The regulator claims the bank repeatedly broke the law over more than five years by issuing misleading product disclosure statements (PDS) and charging customers for advice they never received as recently as February this year.
