Former APRA and ACCC heads to probe CBA

Former Australian Prudential Regulation Authority (APRA) chair John Laker together with the former Australian Competition and Consumer Commission (ACCC) chair, Graeme Samuel and company director, Jillian Broadbent will make up the special panel to undertake the prudential inquiry into the Commonwealth Bank (CBA).

The panel members were named by APRA chair, Wayne Byres today.

He said, as previously announced, the goal of the inquiry was to identify any shortcomings in the governance, culture and accountability frameworks and practices within CBA, and make recommendations as to how they are promptly and adequately addressed.

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The announcement said the inquiry panel would be provided with support by APRA, and could obtain other external expertise and advice as it saw fit.

The panel will provide a final report to APRA by 30 April 2018, with a progress report due on 31 January 2018 with APRA stating it intended to make the reports public.

 




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