Business Services Industry
ASIC in probe on NAB payout.
Australasian Business Intelligence, August, 2002
Aug 16, 2002 (The Courier-Mail
ABIX via COMTEX) -- National Australia Bank (NAB) may still be in trouble despite a significant payout to investors. The bank was forced to pay $A60 million in compensation to more than 200,000 investors in some of its managed funds. The matter has been under investigation by the Australian Securities and Investments Commission, which may widen its enquiries to include any other breaches of compliance regulations. The compensation relates to a decision by NAB in May 2001 to close off several of its older funds. The bank's subsidiary, MLC, admitted that it failed to provide affected investors with crucial information related to the value of their investments. NAB shares closed $A0.61 lower on 16 August 2002 at $A34.34.
...
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- Design a commission plan that drives sales - Sales Commissions
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
- LIFO vs. FIFO: a return to the basics
