WBC westpac banking corporation

News: WBC Australia's ASIC Says Court Declared Westpac Engaged In Unconscionable Conduct For...

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    Jan 31 (Reuters) - Australian Securities & Investments Commission:

    • COURT DECLARES WESTPAC ENGAGED IN UNCONSCIONABLE CONDUCT FOR INTEREST RATE SWAP, MAXIMUM PENALTY APPLIED
    • FEDERAL COURT DECLARED WESTPAC ENGAGED IN UNCONSCIONABLE CONDUCT IN OCTOBER 2016 WHEN EXECUTING A A$12 BILLION INTEREST RATE SWAP TRANSACTION
    • WESTPAC WILL PAY MAXIMUM PENALTY OF A$1.8 MILLION IN RELATION TO CONDUCT
    • WESTPAC’S UNCONSCIONABLE CONDUCT AROSE WHEN IT ENGAGED IN PRE-HEDGING AHEAD OF AN INTEREST RATE SWAP TRANSACTION WITH A CONSORTIUM
    • ALSO DECLARED WESTPAC FAILED TO HAVE ADEQUATE ARRANGEMENTS TO MANAGE CONFLICT OF INTERESTS BETWEEN IT & CONSORTIUM

    (([email protected];))

 
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Last
$33.18
Change
0.145(0.44%)
Mkt cap ! $113.5B
Open High Low Value Volume
$33.00 $33.19 $32.90 $30.73M 928.9K

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No. Vol. Price($)
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Price($) Vol. No.
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