January 31, 2018 / 11:13 PM / 17 days ago

Commonwealth Bank inquiry panel to reserve comment for final report

Feb 1 (Reuters) - The Australian Prudential Regulation Authority (APRA) on Thursday released a progress report into an inquiry into the Commonwealth Bank of Australia, but said the panel would reserve its observations on governance, culture and accountability for its final report, due by the end of April.

“The Panel does not consider it appropriate to draw conclusions, even preliminary ones, before this work is completed and all relevant evidence collected and carefully evaluated,” the regulator said in a statement providing an update into the inquiry.

In a separate statement, the Commonwealth bank said it has provided the APRA appointed inquiry panel access to around 80 employees for interviews and over 10,000 documents for review so far. The inquiry came in August after the bank was accused of massive breaches of money-laundering rules.

Reporting By Rushil Dutta in Bengaluru; editing by Richard Pullin

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