Australian regulatory body to investigate risk management controls at NAB
The Australia Prudential Regulatory Authority (APRA) is launching an investigation into the risk management controls at National Australia Bank's (NAB) treasury division.
As part of the investigation, APRA will look into the trading activities that caused the losses and whether the bank’s existing escalation procedures were effective. The Australian financial services industry watchdog will also review the NAB treasury’s front and back offices, and weaknesses in the design and implementation of its internal
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