Bank of Australia is reportedly coming under criticism over its controls and compliance systems , as ASIC reportedly plans to launch an enforcement against the bank as part of the response to the Murray Enquiry . ASIC waded into the legal action with an application to stay the proceedings, which was scheduled to be heard on October 1. The regulator has said that " ASIC 's concerns regarding the bank 's compliance systems ( specifically in relation to the bank 's internal monitoring responsibilities ) are also separately held by it , as a result of its investigation into the bank 's money - market deposit account " .
Bank of Australia is reportedly coming under criticism over its controls and compliance systems , as ASIC reportedly plans to launch an enforcement against the bank as part of the response to the Murray Enquiry . The regulator has said that " ASIC 's concerns regarding the bank 's compliance systems ( specifically in relation to the bank 's internal monitoring responsibilities ) are also separately held by it , as a result of its investigation into the bank 's money - market deposit account " .