ASIC requests names of 37 NAB planners
The Australian Securities and Investments Commission (ASIC) has told a Senate Committee that it does not have the names of all of the 37 planners terminated by National Australia Bank over the provision of inappropriate advice and who were the subject of a whistleblower report.
ASIC deputy chairman, Peter Kell told the Senate Economics committee that ASIC had requested the names of the 37 planners from the NAB and that it would then seek to reconcile those against breach reports that may have been filed by the bank.
Under vigorous questioning from National Party Senator, John Williams and Labor Senator, Sam Dastyari, Kell acknowledged that the regulator had been caught unawares by media reporting of the issues which had occurred within NAB and that a whistle-blower had necessarily come forward to ASIC.
Dastayari claimed that the issues around NAB "looks like Commbank all over again".
Kell said he could state whether NAB had acted appropriately with respect to the issues which were being raised and that the matter was now the subject of extensive work within ASIC.
Amid ASIC's evidence to the committee, Senator Williams tabled whistle-blower documents relating to the incidents at NAB and said he hoped they would assist ASIC.
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