Thursday, July 3, 2014

Ian Narev, the CEO of the Commonwealth Bank of Australia, this morning “unreservedly” apologised to clients who lost money in a scandal involving the bank’s financial planning services arm.

Last week, a Senate enquiry found financial advisers from the Commonwealth Bank had made high-risk investments of clients’ money without the clients’ permission, resulting in hundreds of millions of dollars lost. The Senate enquiry called for a Royal Commission into the bank, and the Australian Securities and Investments Commission (ASIC).

Mr Narev stated the bank’s performance in providing financial advice was “unacceptable”, and the bank was launching a scheme to compensate clients who lost money due to the planners’ actions.

In a statement Mr Narev said, “Poor advice provided by some of our advisers between 2003 and 2012 caused financial loss and distress and I am truly sorry for that. […] There have been changes in management, structure and culture. We have also invested in new systems, implemented new processes, enhanced adviser supervision and improved training.”

An investigation by Fairfax Media instigated the Senate inquiry into the Commonwealth Bank’s financial planning division and ASIC.

Whistleblower Jeff Morris, who reported the misconduct of the bank to ASIC six years ago, said in an article for The Sydney Morning Herald that neither the bank nor ASIC should be in control of the compensation program.

Friday, October 30, 2009

Militants in Afghanistan have killed at least six foreign United Nations workers; three Afghans, and a US citizen, during an attack on an international guest-house in the capital Kabul on Wednesday.

Local officials said three gunmen wearing suicide vests, disguised as police, stormed the compound around dawn that morning. They battled security forces for two hours before they either detonated their explosives or were shot dead. At least two Afghan security guards and a civilian died in the assault.

A Taliban spokesman later took credit for the attack, calling it a “first step” to disrupt the planned November 7 presidential run-off election. The group called for a boycott of the polls, and threatened violence against anyone who would vote.

Militants also fired rockets at a luxury hotel and the presidential palace in the capital on Wednesday, but without causing casualties.

Adrian Edwards, a spokesman for the UN, confirmed that six staff for the UN were among the dead. “This has clearly been a very serious incident for us. We’ve not had an incident like this in the past,” he said.

The UN chief in Afghanistan condemned the attack and said it would not deter the organization from continuing its work. “This attack will not, I repeat, will not deter the UN from continuing its work to […] build a better future for the Afghan people,” said Kai Eide.

The US embassy released a statement saying that attacking civilian workers will not lessen US support for the Afghan people and their election process.

The assault came a day after a series of bomb blasts in southern Afghanistan killed eight Americans, making October the deadliest month for US troops in the ongoing eight year war.

Tuesday, May 9, 2006For the first time in three decades, direct and at least partially public diplomatic communication will commence between the United States (US) and Iran. Iranian government spokesman Gholam-Hossein Elham said that Iranian president Mahmoud Ahmadinejad has sent a letter to the U.S. president George W. Bush proposing “new solutions for getting out of international problems and the current fragile situation of the world”.

Mr Gholam-Hossein Elham did not say whether the letter mentioned the nuclear dispute, one of the diplomatic problems currently straining relations between Iran and the USA. This information arrived one day after the Iranian parliament announced that it might retract from the Nuclear Non-Proliferation Treaty (NPT) if Western pressure over its programme was to increase.

Differing reports have been made as to whether or not the letter will be made public, and if so, when. In its online report of 8 May 2006, 09:25 GMT, the BBC quoted Iranian Foreign Ministry spokesman Hamid Reza Asefi as saying that the contents of the letter would be made public once Bush had received it. The updated version of the report of 8 May 2006, 14:52 GMT, quotes Asefi as saying that the contents would be made public “at the right time”. An ABC report quoted Gholam-Hossein Elham as saying “it is not an open letter.”

Iran’s foreign affairs minister, Manouchehr Mottaki, delivered the letter to the United States’ interests section in the Swiss embassy in Tehran on Monday. The United States has not held diplomatic relations with Iran since the 1979 Iranian hostage crisis.

U.S. Secretary of State Condoleezza Rice said “this letter isn’t it. This letter is not the place that one would find an opening to engage on the nuclear issue or anything of the sort.”

“It isn’t addressing the issues that we’re dealing with in a concrete way,” she added.

John R. Bolton, U.S. Ambassador to the United Nations, also read the letter, saying, “I think it is typical of Iran that when major decisions are about to be taken … that they have tried to throw sand in the eyes of the proponents of the action. That’s what this may be.”

The letter has since been put on an official Iranian website, and on Tuesday, Ahmadinejad said “the letter to US President George Bush carries the Iranian nation’s views and comments on international issues as well as suggestions for resolving the many problems facing humanity.”

Sunday, May 18, 2008

An HIV-positive man was sentenced to 35 years in prison Wednesday, one day after being convicted of harassment of a public servant for spitting into the eye and open mouth of a Dallas, Texas police officer in May 2006. The United States Centers for Disease Control and Prevention says that no one has ever contracted HIV from saliva, and a gay-rights and AIDS advocacy group called the sentence excessive.

A Dallas County jury concluded that Willie Campbell’s act of spitting on policeman Dan Waller in 2006 constituted the use of his saliva as a deadly weapon. The incident occurred while Campbell, 42, was resisting arrest while being taken into custody for public intoxication.

“He turns and spits. He hits me in the eye and mouth. Then he told me he has AIDS. I immediately began looking for something to flush my eyes with,” said Waller to The Dallas Morning News.

Officer Waller responded after a bystander reported seeing an unconscious male lying outside a building. Dallas County prosecutors stated that Campbell attempted to fight paramedics and kicked the police officer who arrested him for public intoxication.

Prosecutors said that Campbell yelled that he was innocent during the trial, and claimed a police officer was lying. Campbell’s lawyer Russell Heinrichs said that because he had a history of convictions including similarly attacking two other police officers, biting inmates, and other offenses, he was indicted under a habitual offender statute. The statute increased his minimum sentence to 25 years in prison. Because the jury ruled that Campbell’s saliva was used as a deadly weapon, he will not be eligible for parole until completing at least half his sentence.

The organization Lambda Legal (Lambda Legal Defense and Education Fund), which advocates for individuals living with HIV, says that saliva should not be considered a deadly weapon. Bebe Anderson, the HIV projects director at Lambda Legal, spoke with The Dallas Morning News about the sentence. “It’s been 25 years since the virus was identified, but there are still lots of fears,” said Anderson.

The Dallas County prosecutor who handled the trial, Jenni Morse, said that the deadly weapon finding was justified. “No matter how minuscule, there is some risk. That means there is the possibility of causing serious bodily injury or death,” said Morse. Dallas County District Attorney Craig Watkins stated: “If you look at the facts of this case, it was clear that the defendant intended to cause serious bodily injury.”

A page at the CDC’s website, HIV and Its Transmission, states: “HIV has been found in saliva and tears in very low quantities from some AIDS patients.” The subsection “Saliva, Tears, and Sweat” concludes that: “Contact with saliva, tears, or sweat has never been shown to result in transmission of HIV.” On Friday the Dallas County Health Department released a statement explaining that HIV is most commonly spread through sexual contact, sharing needles, or transfusion from an infected blood product.