June 21 (Reuters) - Commonwealth Bank of Australia CBA.AX :
* FEDERAL COURT APPROVES CBA AND ASIC SETTLEMENT OVER BBSW
* CBA HAS AGREED TO PAY A $5 MILLION PENALTY, A PAYMENT OF $15 MILLION TO A FINANCIAL CONSUMER PROTECTION FUND
* ALSO AGREED TO ENTER INTO AN ENFORCEABLE UNDERTAKING WITH ASIC, UNDER WHICH AN INDEPENDENT EXPERT WILL BE APPOINTED
* CBA HAS AGREED TO PAY $5 MILLION PAYMENT TOWARDS ASIC'S COSTS OF LITIGATION AND ITS INVESTIGATION
* INDEPENDENT EXPERT WILL REVIEW CONTROLS, POLICIES, TRAINING & MONITORING IN RELATION TO ITS BBSW BUSINESS
* FEDERAL COURT OF AUSTRALIA APPROVED SETTLEMENT WITH ASIC ON TRADING OF BANK BILLS REGARDING BANK BILL SWAP RATE