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ASIC launches rate rigging suit against CBA

Just over 24 hours since The Commonwealth Bank announced its new CEO, Australia’s corporate watchdog launched proceedings against the bank.

ASIC is proceeding with allegations the bank rigged key interest rates in 2012.

Ross Greenwood speaks with Martin North from Digital Finance Analytics.

“The fact that this was completely silenced until today highlights there are issues in terms of culture within the bank.

“This is not an isolated incident where the core benchmark rate is seen to be fiddled.

“I still think somewhere inside CBA people must’ve known this issue hadn’t gone away.”

Listen to the full interview below

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