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WESTPAC
Financial planning
Westpac has reported a 66% decline in full-year profit but has pointed to a strong balance sheet....
Financial planning
AUSTRAC will cost the bank $415 million and its goodwill and intangibles associated with Westpac Life Insurance Services will cost $568 million....
Funds management
Only two US banks were fined more than the Australian bank during 2020, with anti-money laundering breaches being the most common cause worldwide....
Funds management
Westpac should generate strong profits as loan losses fall, cash rates begin to rise, and cost savings are achieved, according to Morningstar....
Funds management
Westpac Banking Group was the most-sold shares in September with $21 million being withdrawn by retail investors, along with Qantas and Flight Centre....
Outsider
Outsider reckons the guys over at Westpac can relax a little over the record penalty they paid as a result of the bank’s AUSTRAC infringements because JP Morgan Chase and...
Financial planning
According to Fitch Ratings, Westpac’s agreement with AUSTRAC will have no impact on the bank’s ratings as the risk and governance shortcomings have been already factored ...
Policy & Regulation
Westpac has broken new ground, agreeing with AUSTRAC to go to the Federal Court for acceptance of a $1.3 billion penalty relating to its AMLCTF breaches....
People & Products
Michael Hawker has been appointed as an independent non-executive director to the Westpac board....
Financial planning
Fitch Ratings has maintained its negative outlook on the ratings of Australia’s four largest banks: ANZ Group, Commonwealth Bank of Australia, NAB and Westpac. ...
Financial planning
Collaboration between climate scientists and finance firms like NAB, Westpac and the Commonwealth Bank has produced guidance on assessing the physical risks of climate ch...
Financial planning
As platform migrations and consolidation occur, new data is pointing to a still small but growing number of advisers choosing to use industry funds. ...
Policy & Regulation
The Australian Securities and Investments Commission has signalled it will not be pursuing the Commonwealth Bank over possible AUTRAC-related violations of the Corporatio...
Superannuation
A major industry superannuation has confirmed its involvement as a party in class actions against AMP Limited, the Commonwealth Bank and Westpac....
Financial planning
Six of Australia's largest banking and financial services institutions have offered a total of $1.05 billion in compensation, as at 30 June 2020, to customers who suffere...
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MARKET INSIGHTS
Podcast
Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...
It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...
So we are now underwriting criminal scams?...