SYDNEY (Reuters) - Australia's prudential regulator said on Monday it would establish an inquiry into governance, culture and accountability at the Commonwealth Bank of Australia (AX:CBA).
The move comes after the Australian government earlier this month accused the bank of widespread breaches of money-laundering and counter-terrorism financing rules.
The Australian Prudential (LON:PRU) Regulation Authority said in a statement it launched the inquiry after "a number of issues which have raised concerns...and have damaged the bank's reputation and public standing".