In July 2015, NAB announced the outcome of our review of the Navigator Wrap platform. This review started in May 2014, and involved a program of work to review how income and tax was being applied to customers’ accounts on our Navigator Wrap platform.

Further details about this July 2015 announcement are available here: http://news.nab.com.au/nab-confirms-navigator-wrap-platform-review-outcome/

While this remediation work is now complete, today we have released a customer-friendly document to further explain this program of work.

Matt Lawrance, Executive General Manager NAB Wealth Operations, said that at NAB, we take our role seriously in managing the wealth of our 1.5 million customers of our wealth brands, including MLC.

“We believe that by being open and transparent about when we get things wrong and what we’ve done to right these wrongs, we can build further trust and understanding with our customers,” Mr Lawrance said.

“For this reason, we have prepared this public report to explain what steps NAB undertook between 2012 and 2015 to correct issues we identified on our Navigator Wrap platform.”

The report can be viewed here:https://www.mlc.com.au/personal/nav_footer/navigator_wrap_customer_remediation_update