March 22, 2018 / 8:13 AM / a year ago

Commonwealth Bank says AUSTRAC proceeding to move to mediation as per court orders

March 22 (Reuters) - Commonwealth Bank of Australia (CBA) said on Thursday the Federal Court of Australia has referred civil penalty proceedings initiated by AUSTRAC against the bank for mediation at the request of both the parties.

CBA said in a statement the orders from the court advised mediation between the bank and the anti money-laundering regulator to occur by May 25. (Reporting By Rushil Dutta in Bengaluru; Editing by Vyas Mohan)

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