June 23, 2020 / 12:31 AM / 15 days ago

BRIEF-Australia's ASIC Commences Proceedings Against CBA And Unit

June 23 (Reuters) - Australian Securities and Investments Commission:

* COMMENCED CIVIL PENALTY PROCEEDINGS IN FEDERAL COURT AGAINST CBA AND UNIT, COLONIAL FIRST STATE INVESTMENTS

* CIVIL PENALTY PROCEEDINGS REGARDING ALLEGED CONFLICTED REMUNERATION PAID BY CFSIL TO CBA BETWEEN 1 JULY 2013 & 30 JUNE 2019

* ALLEGES THAT MORE THAN $22 MILLION IN CONFLICTED REMUNERATION WAS PAID BY CFSIL TO CBA FOR DISTRIBUTION OF A SUPERANNUATION PRODUCT ISSUED BY CFSIL Source ( bit.ly/2V6my5q) Further company coverage:

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