CBA APRA inquiry panel appointed

Company News

by Jessica Amir

The Australian Prudential Regulation Authority (APRA) has appointed panel members for its inquiry into the Commonwealth Bank of Australia (ASX:CBA).

The prudential inquiry will look into concerns about CBA’s governance, culture and accountability frameworks and practices, which fractured the bank’s reputation and public standing.

APRA says it appointed three highly experienced and credentialed panel members to conduct the inquiry, with the likes of AO-Dr John Laker, Chairman of the Banking and Finance Oath- Professor Graeme Samuel and Professorial Fellow in the Monash Business School and company director, Jillian Broadbent.

The inquiry will hand down findings and recommendations in a progress report on 31 January 2018, and a final report by 30 April 2018, which APRA will make public.

Shares in Commonwealth Bank of Australia (ASX:CBA) are trading 0.58 per cent lower to $73.55.

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