Dec 1 (Reuters) - Commonwealth Bank of Australia CBA.AX :
* ACKNOWLEDGES PROCEEDINGS COMMENCED BY ASIC
* CBA DOES NOT INTEND TO DEFEND PROCEEDINGS
* ACKNOWLEDGES CIVIL PROCEEDINGS ALLEGING CONTRAVENTIONS OF SOME MISLEADING & DECEPTIVE CONDUCT PROVISIONS OF ASIC ACT
* COMBINED TOTAL OF REFUNDS SENT TO CUSTOMERS WAS $3.74 MILLION
* MATTER CONCERNS CBA'S CONDUCT IN RELATION TO OVERCHARGING ERROR WITH TWO PRODUCTS BETWEEN DEC 2011 AND MARCH 2018