FILE NO 1-9945
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON DC 20549
FORM 6-K
REPORT OF FOREIGN ISSUER
Pursuant to Rule 13a-16 or
15d-16 of
the Securities Exchange Act of 1934
For the month of January 2004
National Australia Bank Limited
ACN 004 044 937
(Registrant’s Name)
Level 24
500 Bourke Street
MELBOURNE VICTORIA 3000
AUSTRALIA
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
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Form 20-F |
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Form 40-F |
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Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
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Yes |
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No |
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If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82 -
This Report on Form 6-K shall be deemed to be incorporated by reference in the prospectus included in the Registration Statement on Form F-3 (No. 333-6632) of National Australia Bank Limited and to be part thereof from the date on which this Report, is filed, to the extent not superseded by documents or reports subsequently filed or furnished.
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Group Corporate Affairs |
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Media Release |
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500 Bourke Street |
Melbourne, Thursday 15th January 2004
National’s response to unauthorised foreign currency trading
The Chief Executive Officer of the National Australia Bank, Mr Frank Cicutto, in conjunction with the Risk Committee of the Board, has initiated a full investigation into unauthorised foreign currency trading and appointed independent experts from PricewaterhouseCoopers to assist the National in this investigation.
“Since this issue came to light on Tuesday, a structured process to review and resolve all issues arising from the unauthorised foreign currency trading has been in place,” Mr Cicutto said.
“We immediately advised the Australian Stock Exchange and fulfilled our continuous disclosure obligations when we became aware of the unauthorised trading and the losses arising from this trading.
“We advised all relevant regulatory authorities and sent a formal reference to the Australian Federal Police so that they can evaluate whether any criminal charges should be brought.
“We suspended the four members of the foreign currency options trading desk involved in this matter pending the outcomes of the internal investigation and external inquiries and we took appropriate steps to manage the position.
“We have subsequently commissioned a comprehensive investigation of what happened and how it occurred so that we can review and enhance our processes to ensure that this does not happen again.”
The Chairman of the National Australia Bank, Mr Charles Allen, said the Board of Directors were fully supportive of the actions taken by the management team.
“The Board of Directors will closely monitor the investigation, and the Risk Committee, chaired by Mr Graham Kraehe, will receive regular management updates and reports from PricewaterhouseCoopers,” Mr Allen said.
“We will continue to keep the market informed as appropriate and, at this early stage, we expect to release the outcomes of the investigation by the end of February.”
For further information, please contact:
Robert Hadler
Group Corporate Affairs
03 8641 3876
0404 805 675
or visit www.nabgroup.com
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SIGNATURE PAGE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorised.
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NATIONAL AUSTRALIA BANK LIMITED |
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Susan E Crook |
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Date: |
15 January 2004 |
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Title: |
Associate Company Secretary |
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