Business
Government wants ASIC to back off ‘shiraz and wagyu’ appeal – The Australian Financial Review
Government pressure is building on ASIC to accept the ‘umpire’s decision’ and not appeal to the High Court its responsible lending case loss against Westpac.
It is understood Senator Paterson’s concerns are shared by senior ministers in the Morrison government, but they are reluctant to comment publicly because ASIC is an independent regulator.
Senior bankers also want finality to provide confidence they have reasonable discretion about what customer information to use when assessing loans.
Mr Shipton said ASIC was still taking external legal advice on the full Federal Court decision and the regulator’s leadership group would review the advice in t…
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