Latest Products

BBSW Settlement for CBA

Friday 22 June 2018

News Summary 

Money Management 

Money Management has reported that CBA reached a settlement with the Australian Securities and Investments Commission (ASIC) of $25 million for unconscionable conduct in relation to the Bank Bill Swap Rate (BBSW).
$5 million will go the regulators costs and litigation, $15 million will go to the consumer financial protection fund and $5 million will be paid in penalties.
Money Management has also reported that the ASIC has accepted an enforceable undertaking from CBA.