WBC westpac banking corporation

Nov 30 (Reuters) - Australian Securities & Investments...

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    Nov 30 (Reuters) - Australian Securities & Investments Commission:

    • ASIC LAUNCHES MULTIPLE LEGAL ACTIONS AGAINST WESTPAC
    • HAS COMMENCED SIX CIVIL PENALTY PROCEEDINGS AGAINST WESTPAC IN THE FEDERAL COURT
    • PROCEEDINGS ALLEGE WIDESPREAD COMPLIANCE FAILURES ACROSS MULTIPLE WESTPAC BUSINESSES
    • WESTPAC BUSINESSES AGAINST WHOM ALLEGATIONS ARE MADE INCLUDE ITS BANKING, SUPERANNUATION AND WEALTH MANAGEMENT BRANDS, AMONG OTHERS
    • WESTPAC HAS ADMITTED THE ALLEGATIONS IN EACH OF THE PROCEEDINGS AND WILL REMEDIATE ABOUT A$80 MILLION TO CUSTOMERS
    • ASIC AND WESTPAC WILL SUBMIT TO THE COURT THAT COMBINED PENALTIES OF MORE THAN A$100 MILLION ARE APPROPRIATE
    • ALLEGED CONDUCT OCCURRED OVER MANY YEARS AND AFFECTED MANY THOUSANDS OF CONSUMERS

    Source text https://asic.gov.au/about-asic/news-centre/find-a-media-release/2021-releases/21-320mr-asic-launches-multiple-legal-actions-against-westpac

    (([email protected];))

 
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Last
$33.48
Change
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