Watchdog savages NAB
The Australian Prudential Regulation Authority (Apra) has given NAB a deadline of April 30 to come up with a formal policy on risk limits, which were routinely breached by the four traders that lost the bank A$360 million ($280 million).
NAB must also finalise the "key staff changes" that followed the Pricewaterhouse-Coopers report it commissioned into the scandal, and show substantial progress in redressing the issues raised by Apra before it can trade currency options again.
Key among these
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