Markets

The Commonwealth Bank Chair has apologised to shareholders

Catherine Livingstone, the chair of the Commonwealth Bank, today apologised to shareholders for the bank’s “deficient” oversight of anti-money laundering regulations. She was referring, at the bank’s AGM, to accusations the bank breached the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Act over combined cash deposits of $624.7 million. The civil […]
The Commonwealth Bank Chair has apologised to shareholders
Markets

Senior execs overseeing financial crime monitoring at CBA are being moved on

The Commonwealth Bank today announced a series of measures to strengthen its anti-money laundering operations, including replacing the senior management in charge, hiring more than 50 financial crime experts and spending more on technology. The actions of senior managers in the money-laundering scandal who run compliance are also under scrutiny. […]
Senior execs overseeing financial crime monitoring at CBA are being moved on
Markets

Catherine Livingstone is standing down as Telstra chair

Catherine Livingstone is retiring as Telstra’s chairman of the board of directors. She will be succeeded by John Mullen, the CEO of Asciano, a logistics group currently the target of a $9 billion takeover battle. Livingstone has been Chairman since May 2009 and a director since November 2000. She has […]
Catherine Livingstone is standing down as Telstra chair