NAB/ASIC corruption exposed

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Via Banking Day:

CLEARLY DEFICIENT: ‘No saving NAB this time’ ASIC chair James Shipton did not quite tell Rowna Orr (pictured) at the banking royal commission.

NAB’s inability to fully remedy illegal conduct in the foreign exchange market was laid bare in Friday’s hearing of the royal commission into misconduct in banking.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.