All posts tagged "Westpac"
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1.0KContributed ArticleNow More than Ever: The Need for Reliable Conduct Risk Metrics
The demands being imposed on the global banking system highlight the Achilles Heel of nonfinancial risk management and, particularly, misconduct risk, says Stephen Scott at Starling.
March 21, 2020 -
370Australia & NZAustralian Banks Announce Small Business, Home Loan Relief
Australia's big four banks have each announced reductions in their lending rates, as well as the availability of deferrals of small business and home loan repayments.
March 20, 2020 -
321Australia & NZAustralia: FAR Extension Out of Step with Royal Commission Proposals
The proposed extension of the Financial Accountability Regime to ASIC-regulated firms could potentially affect 53,000 small businesses, says former ASIC official Pamela Hanrahan.
March 5, 2020 -
317Australia & NZASIC Reveals Sharp Increase in Investigations Involving Major FIs
As of 1 January, ASIC had 316 investigations on foot related to misconduct. Cases involving CBA, NAB, Westpac, ANZ and AMP increased 52% from 12 months earlier.
February 27, 2020 -
1.4KAML / KYCMeeting New Compliance Challenges Through Digital Identity
Digital identity systems could form a significant component of the compliance infrastructures at the new digital banks in the years to come, says Refinitiv’s Phillip Malcolm.
February 27, 2020 -
307Australia & NZAdvice Remediation at Six Biggest FIs Reaches A$750m: ASIC
NAB has paid over A$203mn to over 588,000 customers as compensation for non-compliant advice and fees-for-no-service misconduct.
February 12, 2020 -
339AML / KYCUS Law Firms Launch New Class Actions Against Westpac
The class actions seek damages for investors who lost money on Westpac ADRs following the civil penalty orders filed against the bank by AUSTRAC last November.
February 4, 2020 -
1.3KAML / KYCTechnology to Drive Regulatory Agenda in 2020: Thomson Reuters
Technology has displaced the 2008 financial crisis as the main issue driving the international regulatory agenda, says a new report from Thomson Reuters.
January 9, 2020 -
427AML / KYC
Westpac Faces Shareholder Class Action for Possible Disclosure Failures
The class action, filed by law firm Phi Finney McDonald, will rest on whether Westpac breached disclosure obligations or misled investors about the extent of its AML compliance failures.
December 23, 2019 -
353Australia & NZ
Westpac Ordered to Pay A$9.15m Penalty for Poor Advice
In addition to the A$9.15 million penalty, Westpac is required to pay ASIC’s legal costs, and A$12.7 million in compensation to clients that received bad advice from one of the bank's adviser.
December 20, 2019
