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AUSTRAC, Westpac still locked in settlement negotiations, court hears
Financial Services March 30, 2020 9:51 pm By Alison Eveleigh

Westpac is still locked in mediation with AUSTRAC over allegations that it committed over 23 million breaches of anti-money laundering and counter-terrorism financing laws, with […]

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ASIC to shift regulatory priorities amid pandemic
ASIC March 23, 2020 1:19 pm By Cat Fredenburgh

The Australian Securities and Investments Commission will continue its enforcement activities amid the spread of the coronavirus but will prioritise cracking down on behaviour that […]

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Westpac class action beauty parade is on after new suit filed
Class Actions March 13, 2020 10:45 am By Cat Fredenburgh

Westpac has been hit with another class action over alleged anti-money laundering breaches, teeing up a high-stakes beauty parade over which firm will lead the […]

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US class action firms pounce on Westpac
Class Actions February 3, 2020 2:08 pm By Cat Fredenburgh

Westpac is now facing at least eight class actions in various US courts seeking $200 million from the bank for allegedly failing to alert shareholders […]

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APRA puts conditions on CBA unit Avanteos after charging fees to dead clients
Financial Services December 11, 2019 11:16 pm By Christine Caulfield

CBA subsidiary Avanteos Investments Limited has been hit with extra conditions on its superannuation licence by the Australian Prudential Regulation Authority after it was revealed […]

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NAB admits to violating Credit Act with ‘Introducer’ program
Financial Services November 18, 2019 11:40 pm By Cat Fredenburgh

The National Australia Bank has admitted to most of the violations alleged in the Australian Securities and Investments Commission’s case over the bank’s $24 billion […]

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NAB units face class action over ‘regrettable mismanagement’ of super accounts
Class Actions January 22, 2020 1:00 pm By Miklos Bolza

Two National Australia Bank units have been hit with a class action alleging they violated their duties as superannuation trustees by allegedly failing to transfer […]

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Westpac to face US class action over AUSTRAC scandal
Class Actions January 30, 2020 3:10 pm By Cat Fredenburgh

A US-based plaintiffs firm is planning a class action against Westpac alleging it failed to alert investors to significant lapses in its anti-money laundering and […]

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APRA begins probe of Westpac over ‘substantial gaps in risk governance’
Financial Services December 17, 2019 3:31 pm By Cat Fredenburgh

The Australian Prudential Regulation Authority has flagged potentially “substantial gaps in risk governance” by Westpac as it formally kicked off an investigation into the bank […]

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NAB to face $750M in fines from AUSTRAC and ASIC actions, analysts predict
Financial Services January 10, 2020 2:04 pm By Miklos Bolza

National Australia Bank will be hit this year with an estimated $750 million in fines stemming from its fees for no service conduct and potential […]

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