Business
High Court delivers key decision on personal advice – Money Management
News summary.
In a key decision on the distinction between personal and general advice, the High Court of Australia has dismissed an appeal lodged by Westpac around a 2016 Australian Securities and Investments Commission (ASIC) claim that the bank had provided financial product advice.
The ASIC action concerned Westpac Securities Administration Limited and BT Funds Management and related to calls to 14 customers concerning the rollover of their external superannuation accounts.
The High Court found that Westpac…
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