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Westpac faces penalties after High Court rules its superannuation advice overstepped financial laws – ABC News
Westpac is facing millions of dollars in fines after the High Court ruled it overstepped financial advice laws in promoting superannuation services to its customers….
Westpac is facing fines in the tens of millions of dollars after the High Court ruled it broke the law in offering advice to superannuation customers.
- Westpac’s campaign to drive membership of its superannuation subsidiary overstepped financial laws
- The High Court found an average person would have expected Westpac to take account of their individual needs
- The banking giant could be facing penalties stretching into the tens of millions of dollars
The Australian Securities and Investments Commission…
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