Westpac faces insider trading allegations

Wed, 05 May 2021

Westpac is being sued for insider trading and unconscionable conduct related to interest rate activity during its involvement in the 2016 Ausgrid privatisation.The bank confirmed in a statement to the NZX that the Australian Securities and Investments Commission was pursuing it also for breaches of its Australian Financial Services License obligations.The bank said it took the allegations very seriously and was considering its position having just received the statement of claim.“As the matter is now before the court it would not be appro...

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