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Disappointment over CBA boss missing Storm inquiry

Nationals Senator John Williams expressed disappointment that the chief executive of the Commonwealth Bank of Australia (CBA) will not be appearing at the parliamentary inquiry into financial…

user iconLawyers Weekly • 02 September 2009 • NewLaw
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Nationals Senator John Williams expressed disappointment that the chief executive of the Commonwealth Bank of Australia (CBA) will not be appearing at the parliamentary inquiry into financial products and services in Australia on Friday.

 
 

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Williams, a member of the committee conducting the inquiry, said CBA's CEO Ralph Norris had made statements that he was committed to the identification and resolution of the bank's involvement with Storm Financial and had signed CBA's submission to the inquiry.

He said he found it unacceptable that Norris would not be appearing as a witness and would ask committee chair Bernie Ripoll to exert pressure on him to appear.

"This inquiry is trying to determine what went wrong so that we, as legislators, may be able to prevent such happenings in the future, and it is imperative [that] frank and open evidence be given by key players", he said.

The hearing will be held in Sydney after visiting Cairns, Townsville and Brisbane this week.

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