Westpac served with class action
Westpac Banking Corporation has been served with a class action by law firm Phi Finney McDonald on behalf of shareholders affected by the AUSTRAC money-laundering scandal.
In an announcement to the Australian Securities Exchange (ASX), Westpac said the shareholders were those who acquired an interest in Westpac securities between 16 December, 2013 and 19 November, 2019 (inclusive).
“The claim relates to market disclosure issues connected to Westpac’s monitoring of financial crime over the relevant period and matters which are the subject of the recent AUSTRAC proceeding,” the announcement said.
“The claim does not identify the amount of any damages sought.
“Westpac will be defending the claims.”
Recommended for you
Equity offerings should be “seriously considered” by advice firms if they want to attract experienced advisers with the option viewed as a major differentiator for candidates seeking their next role.
DASH Technology Group has enacted two internal promotions, appointing a chief risk officer and chief commercial officer to strengthen the firm’s governance and operational capabilities.
The Stockbrokers and Investment Advisers Association has announced the appointment of its new chief executive following the exit of Judith Fox after six years.
Insignia Financial has appointed an experienced financial advice leader as head of education and advice on its Master Trust business, who joins from Ignition Advice,
