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Australian regulator Westpac complained of alleged internal trafficking


Australian regulator Westpac complained of alleged internal trafficking
Australian corporate watchdog accuses Westpac of allegedly insider trading and licensing in a $ 12 billion ($ 9.3 billion) debt deal associated with the privatization of the nation’s largest electricity distributor.
The case presented by the Australian Securities and Investment Commission on Wednesday is expected to shed light on the trading of derivatives and the opaque world of the domestic market. controls according to assets in the second largest bank in the country.
Allegations Westpac is trying to rebuild its reputation after allegations of money laundering popular poll deteriorating behavior of the financial sector.
In a statement, Asic said allegations related to Westpac’s role in carrying out the largest interest rate swap transaction in Australia’s history on behalf of pension funds bought by Ausgrid energy company from the New South Wales government in 2016. ....

Nathan Zaia , Elizabeth Sheedy , Brian Hartze , Macquarie University , Investment Commission On , Australian Securities , Investment Commission , New South Wales , Australian Super , நாதன் ஜைய , எலிசபெத் ஷெடி , மக்வரீ பல்கலைக்கழகம் , முதலீடு தரகு ஆன் , ஆஸ்திரேலிய பத்திரங்கள் , முதலீடு தரகு , புதியது தெற்கு வேல்ஸ் , ஆஸ்திரேலிய அருமை ,

Banking anti-misconduct rules bring bosses into line: new research


Macquarie University/The Lighthouse
After a string of scandals in Australia’s banks, Macquarie Business School research shows that a new regime to make banking executives accountable is working – for now, writes Dr Dominic Canestrari-Soh.
In the wake of a series of misconduct scandals in the banking industry including shonky financial advice, mis-selling of financial products and charging fees for no service, the Banking Executive Accountability Regime, or the BEAR as it is more commonly referred to, was introduced in mid-2018.
Buck stops here: Under the BEAR, banks are required to allocate specific responsibilities to senior executives and directors, in order to stop them hiding behind ignorance and group decision-making. ....

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