Report damns NAB’s internal controls while regulator demands changes

Implementation Outlook

The Australian Prudential Regulation Authority (Apra) has given NAB a deadline of April 30 to come up with a formal policy on risk limits, which were routinely breached by the four foreign exchange traders that lost the bank A$360 million ($280 million). NAB must also finalise the "key staff changes" that followed the PricewaterhouseCoopers report it commissioned into the scandal, and show substantial progress in redressing the issues raised by Apra before it can trade currency options again

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Investment banks: the future of risk control

This survey report explores the current state of risk controls in investment banks, the challenges of effective engagement across the three lines of defence, and the opportunity to develop a more dynamic approach to first-line risk control

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