Australian regulatory body to investigate risk management controls at NAB

This follows the bank's announcement on Tuesday that it faces losses of up to A$180 million relating to unauthorised trading in foreign exchange options.

As part of the investigation, APRA will look into the trading activities that caused the losses and whether the bank’s existing escalation procedures were effective. The Australian financial services industry watchdog will also review the NAB treasury’s front and back offices, and weaknesses in the design and implementation of its internal

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