Subscribe today - find out more
Why you should consider BusinessDesk

Westpac's Aussie parent to pay A$113m in penalties

Staff reporters
Tue, 30 Nov 2021

Staff reporters
Tue, 30 Nov 2021
Westpac's Australian parent said it has agreed with the Australian Securities and Investments Commission (ASIC) to pay A$113 million (NZ$118m) to settle six separate longstanding "matters".These include charging the dead for advice, providing incorrect interest rate information to borrowers, and wrongly issuing duplicate general insurance policies with customers' consent.The other three matters are inadequate disclosure of adviser fees received for certain super and investment products, its process for identifying and managing...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Primary Sector
The next big milestone in the A2 class action
Rebecca Howard | Thu, 20 Jan 2022

Once the court decides how the matter will proceed it will make orders for A2 Milk to file a defence, say Shine Lawyers. 

Opinion
Vocus-2degrees merger makes sense – can they make it work?
Peter Griffin | Thu, 20 Jan 2022

The question isn’t whether 2degrees and Vocus should come together. It’s how will this newly merged player give us the third strong market player we’ve long needed.

Primary Sector
Fonterra wants new capital structure in place by June
Rebecca Howard | Thu, 20 Jan 2022

Talks are underway between the government and Fonterra to hammer out the final details of the capital structure reform. 

Sponsored
How to pick the perfect real estate investment now

Now is a good time to get on the property investment ladder - here is how to get there.

Sponsored
Green energy for green farms and green trucks

Ballance Agri-Nutrients and Hiringa Energy are preparing to make green hydrogen to power trucks and produce sustainable farm fertiliser.