Work & career (105 items)

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Foreign news: Five banks in US$110m FX rigging settlement, BNP standardises payments protocol, EC mulls bank capital rule changes

New York federal Judge Lorna Schofield has given preliminary approval to proposed settlements totalling US$111.2 million between five more banks and investors in a wide-ranging suit accusing 16 of the world's largest banks of rigging foreign exchange rates, in violation of US antitrust law. read more

NAB frothing over accountability regime

National Australia Bank has warned that the Federal Government's new effort to make bank executives more accountable to shareholders and customers could result in a "detrimental" shift in financial services regulation and undermine APRA’s relationships with banks.In a definitively negative and perhaps over-pitched submission to the Treasury consultation on the proposed Banking Executive Accountability Regime, the country's fourth-largest bank exhorted the Turnbull government to rethink proposals to give more powers to APRA.NAB is opposed - unequivocally - to the prospect of a broader definition of "accountable persons" including board chairs and non-executive directors who oversee the work of risk and audit committees. read more

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