‘Nothing that I can do’: Judge reluctantly imposes $1.8M penalty on Westpac in Ausgrid case

Financial Services 2024-01-31 12:41 pm By Cindy Cameronne | Sydney

A judge has reluctantly hit Westpac with a $1.8 million penalty after the bank admitted to unconscionable conduct when trading on the morning of a $16 billion deal to privatise electricity provider Ausgrid, saying it was the maximum fine allowed under the relevant law.