•    Australian debit card system operator eftpos has named former investment banker, Vickki McFadden, as the new independent chair of its board. She replaces Bruce Rathie, who did not seek re-election after coming to the end of his term in November 2015. McFadden would "help guide eftpos through our transition from a single-product company to a multi-product, multi-channel and services payments company," said managing director, Bruce Mansfield. He said the first of these new products would enter the market in 2016, joining new services such as the eftpos ATM processing service launched in 2015.Commonwealth Bank staff were allegedly complicit in a $76 million Ponzi scheme and received secret commissions for their role in the alleged fraud, which was ignored by the bank's management for almost five years - until police were alerted, Fairfax Media is reporting. The alleged architects of the scam will face court in February 2017 and have indicated they will plead not guilty to almost 100 fraud and deception offences.The Australia Securities and Investments Commission has banned Shane Thompson, of New Gisborne, Victoria, from providing financial services and credit activities for seven years. In a media statement, ASIC said Thompson contravened financial services laws between December 2012 and February 2013, while employed by National Australia Bank. Examples of the misconduct cited by ASIC included forging client signatures on 'Change of adviser' forms without the clients' knowledge or authorisation; and receiving financial planning remuneration from processing these false forms.The Reserve Bank has been forced to lift its issuance of $100 notes as, in the past six months, the number of $100 notes in circulation has grown at an average annual pace of 12.1 per cent - the highest since the global financial crisis. "As opposed to other notes, $100 notes are regarded as a store of value, with an increasing amount of wealth being stored in physical cash. The data seems to suggest increased investor caution. Changes in future growth rates of banknotes will be important to detect changes in spending and consumer sentiment," said Craig James, CommSec's chief economist.Westpac has announced that Warren Shaw, former chief executive officer of The Banksia Financial Group, is to be national head of Westpac Broker Distribution, a newly created role. Shaw previously held a number of senior positions at NAB including executive general manager, retail and regional general manager for mortgages and consumer insurance, according to Australian Broker. At Westpac he will be reporting to Tony MacRae, who was promoted in July last year to oversee third party distribution for the entire Westpac Group.