Yes?And interest rates were corrected between June and September of 2017. MR DINELLI: Did you turn your mind to 912D again in this context?I wasn’t in the meeting when the compliance impact assessment discussion was Yes?Was raised. Do you know what they what was determined?Yes, I do. So they determined it – wasn’t significant. I see. So you can’t comment on whether or not they had regard to the number and frequency of similar past breaches?I don’t think we’ve had a similar breach of this nature. I do know they had regard to the time period that it persisted over, which was six months. The number of customers impacted, the dollar impact, which has been about $980,000. THE COMMISSIONER: I’m 980?980, yes, Commissioner. And number of customers?1860. MR DINELLI: That decision as to whether or not to inform ASIC was reconsidered about two months later, wasn’t it?Yes, it was. Were you part of that decision?No, I wasn’t. Is it common to reconsider whether or not whether or not a disclosure should be – made?Well, I think based on, you know, further information, I I think that the team – wanted to make sure that we were still comfortable that that was the right decision. But then the same conclusion was reached, wasn’t it?Yes, it was. And the customers have now been remediated in relation ?Yes. They have, yes. this issue, but it remains the case that ASIC hasn’t been notified of it?That’s right. Can I go to item 134. THE COMMISSIONER: Sorry, can I just understand who makes the decision report or not report to ASIC?Yes. At what level or what body ?Yes. within the bank makes that decision of report or no report?Yes. So that’s where the sort of key business stakeholders, sort of you know, people at my sort of –
Yes?And interest rates were corrected between June and September of 2017. MR DINELLI: Did you turn your mind to 912D again in this context?I wasn’t in the meeting when the compliance impact assessment discussion was Yes?Was raised. Do you know what they – what was determined?Yes, I do. So they determined it wasn’t significant. I see. So you can’t comment on whether or not they had regard to the number and frequency of similar past breaches?I don’t think we’ve had a similar breach of this nature. I do know they had regard to the time period that it persisted over, which was six months. The number of customers impacted, the dollar impact, which has been about $980,000. THE COMMISSIONER: I’m 980?980, yes, Commissioner. And number of customers?1860. MR DINELLI: That decision as to whether or not to inform ASIC was reconsidered about two months later, wasn’t it?Yes, it was. Were you part of that decision?No, I wasn’t. Is it common to reconsider whether or not – whether or not a disclosure should be made?Well, I think based on, you know, further information, I – I think that the team wanted to make sure that we were still comfortable that that was the right decision. But then the same conclusion was reached, wasn’t it?Yes, it was. And the customers have now been remediated in relation ?Yes. They have, yes. this issue, but it remains the case that ASIC hasn’t been notified of it?That’s right. Can I go to item 134. THE COMMISSIONER: Sorry, can I just understand who makes the decision report or not report to ASIC?Yes. At what level or what body ?Yes. within the bank makes that decision of report or no report?Yes. So that’s where the sort of key business stakeholders, sort of – you know, people at my sort of
transcript-21-march-2018.docx