SYDNEY, Sept 8 (Reuters) - Australia’s banking regulator on Friday announced the terms of reference and appointed three panelists for its inquiry into governance and culture at the Commonwealth Bank of Australia.
The Australian Prudential Regulation Authority said it aimed to identify whether “any core organisational and cultural drivers” at the country’s biggest lender had contributed to scandals at the bank in recent years.
It appointed Jillian Broadbent, John Laker and Graeme Samuel to run the inquiry. The regulator announced the inquiry after the bank was accused of massive breaches of money-laundering rules in August. (Reporting by Tom Westbrook; Editing by Stephen Coates)