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On The Record

CBA agrees Enforceable Undertaking with ASIC

CBA agrees Enforceable Undertaking with ASIC

Commonwealth Bank has entered into an enforceable undertaking with the Australian Securities and Investments Commission (ASIC) in relation to an investigation into institutional foreign exchange trading between 2008 and 2013.

The enforceable undertaking includes the engagement of an independent expert, who will review and assess the changes we have made to our trading operating model in recent years, including in training, procedures and oversight.

The undertaking also includes a voluntary contribution of $2.5 million to support the further development of financial literacy education relating to changes to delivery of care in the aged care sector.