Oct 27 (Reuters) - National Australia Bank Ltd (NAB)
- Agreed settlement with Australian Securities & Investments Commission (ASIC) of bank bill swap rate (BBSW) legal action
- NAB has agreed to a $10 million penalty and to pay ASIC's costs of $20 million
- NAB will also make a donation of $20 million to a financial consumer protection fund nominated by ASIC
- Impact of settlement will be reflected in NAB's 2017 financial year results
- NAB and ASIC will make an application to federal court for approval of settlement
- To agree to make enhancements to policies, procedures, systems & framework to monitor employees regarding BBSW businesses
- BBSW enhancement process to be overseen by independent expert to be appointed by ASIC
News: NAB National Australia Bank settles bank bill swap rate court action with ASIC
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Last
$43.02 |
Change
-0.390(0.90%) |
Mkt cap ! $131.7B | |||
| Open | High | Low | Value | Volume |
| $43.12 | $43.18 | $42.82 | $122.3M | 2.844M |
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| No. | Vol. | Price($) |
|---|---|---|
| 2 | 529 | $42.85 |
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| Price($) | Vol. | No. |
|---|---|---|
| $43.02 | 500 | 1 |
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| NAB (ASX) Chart |