May 31 (Reuters) - Australian Prudential Regulation Authority (APRA):
- AGREED TO A COURT ENFORCEABLE UNDERTAKING FROM BANK OF QUEENSLAND LIMITED
- UNDERTAKING FOLLOWS APRA’S PRUDENTIAL REVIEW INTO BOQ’S OPERATIONAL RISK, COMPLIANCE AND RISK CULTURE
- BOQ AGREED TO PREPARE REMEDIATION PLAN THAT DETAILS ALL ACTIVITIES IT IS UNDERTAKING TO ADDRESS WEAKNESSES
- BOQ AGREED TO SUBMIT REMEDIATION PLAN TO APRA FOR APPROVAL AND ADDRESS CONCERNS APRA MAY HAVE
- BOQ AGREED TO APPOINT AN INDEPENDENT REVIEWER TO PROVIDE WRITTEN REPORTS ON IMPLEMENTATION OF REMEDIATION PLAN
- IN ADDITION, APRA WILL REQUIRE BOQ TO HOLD OPERATIONAL RISK CAPITAL ADD-ON OF A$50 MILLION TO TAKE EFFECT FROM 30 MAY
(([email protected];))
News: BOQ Australia's APRA Agrees To Court Enforceable Undertaking From Bank Of Queensland
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