Feb 1 (Reuters) - Australia's corporate regulator on Thursday set out supervisory directions for market intermediaries on pre-hedging practices, just a day after a court found the country's third-largest bank Westpac (WBC) guilty of unethical practices.
Earlier this week, Westpac was slammed with a maximum penalty of A$1.8 million ($1.18 million) after a court found the bank allegedly engaged in pre-hedging while carrying out an A$12 billion interest rate swap transaction in 2016, the largest of its kind in the country.
($1 = 1.5214 Australian dollars)
News: WBC Australia sets out guidance for market intermediaries on pre-hedging practices
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