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Westpac and ASIC set for âRumble in the Jungleâ ASIC and Westpac are no strangers to the nationâs courtrooms, and the same old faces are involved.
Business by Richard Gluyas
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Subscriber only If ASIC is to be believed, Westpac s derivatives trading desk went rogue in the mid-morning of October 20, 2016, engaging in insider trading to put the bank s own interests ahead of a consortium of clients splashing out $16.2bn for half of Ausgrid, the NSW poles and wires business. But where ASIC sees black and white, Westpac sees plenty of grey, and in the absence of any settlement is likely to argue it did nothing more over a key two-hour period than engage in long-accepted market behaviour.