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AUB Group uncovers financial misconduct at broking unit

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AUB Group uncovers financial misconduct at broking unit

AUB Group Ltd. has engaged external advisers for an ongoing internal probe into a case involving financial misconduct by the managing director of Austbrokers Canberra Pty Ltd., one of the group's medium-sized, Australian broking entities.

The group said it identified financial misconduct by the Austbrokers Canberra executive following preliminary findings of its internal investigation. It has alerted authorities, regulators and the affected client and is taking remedial action to address the misconduct.

The group said it does not expect the incident to have a material impact.