The first criminal charges from the Hayne Royal Commission are expected to be laid on Friday. Commonwealth Bank's former life insurance business, CommInsur, is set to be charged by the Commonwealth Director of Public Prosecutions for breaching the ASIC Act. CommInsure - which is still in the process of being purchased by Hong Kong's AIA group - came under fire during the royal commission for making false and misleading statements about coverage for heart attacks in its trauma policy. ASIC is expected to confirm the criminal charges on Friday.
from National | Daily Telegraph https://ift.tt/30LoReq
Thursday, October 3, 2019
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