Tag: Westpac

May 05, 2021 BY Steffy Bogdanova

Westpac faces civil proceedings from ASIC

It has been suggested that upon market opening, at 8:30 am that day, Westpac traders obtained and then disposed of interest rate derivatives in an attempt to pre-position the company leading up to the confirmation of the swap transaction. Westpac allegedly held the above transaction knowledge when all of this took place, and that this…

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Forex Weekly Look Back
September 25, 2020 BY Steffy Bogdanova

Forex Weekly Look Back: ATFX adds Merck & Co share CFDs, CFH announced a dedicated Zero hold time liquidity pool

Westpac Banking Corporation announced reaching an agreement with the Australian Transaction Reports and Analysis Centre (AUSTRAC for 23 million alleged breaches of anti-money laundering laws. The bank agreed to pay $1.3 billion to settle the charges in the biggest penalty in Australian corporate history. Digital asset trading platform Bitfinex launched real-time market data feed to…

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March 31, 2017 BY Valentina Kirilova

Citibank refunds $5 million in credit card international transaction fees

Citigroup Pty Limited has refunded approximately $5 million to around 230,000 customers, for failing to properly disclose that credit card international transaction fees apply to Australian dollar transactions where the merchant uses an entity based overseas to process its transactions. In early 2016, Citibank began charging international transaction fees for Australian dollar transactions made with…

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November 28, 2016 BY Valentina Kirilova

ASIC bans former Westpac financial planner for eight years

ASIC has banned Mr Anthony Bishop of Chelmer, Queensland, from providing financial services for eight years. ASIC found that during the period between July 2010 to April 2014, when he was an employee representative of Westpac Financial Consultants Ltd (which is a part of the Westpac Banking Corporation), Mr Bishop was involved in the provision…

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March 03, 2016 BY Mike Fox

R3 trials blockchain fixed income trading with 40 banks

The trial marked an unprecedented scale of institutional collaboration between the financial and technology communities exploring how distributed ledgers can be applied to global financial markets. Just released is a major blockchain announcement from financial technology innovation company R3 CEV. In short, they connected 40 banks to five different blockchains and allowed them to facilitate…

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June 30, 2015 BY Mike Fox

Westpac invests in US bitcoin start-up Coinbase

Westpac Banking Corp (NYSE:WBK) as reported early Tuesday morning from Reuters stated that its venture capital fund had invested an undisclosed sum in US based bitcoin start-up Coinbase in the first such deal by an Australian bank in the still developing digital currency. Westpac is Australia’s second largest bank by market value and said the investment would allow its…

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September 19, 2014 BY Mike Fox

September 19th Weekly Westpac Aussie FX Video News

The Aussie dollar hit 6 month lows under 0.90 after the US Federal Reserve meeting where officials raised their forecast for the key interest rate. But perhaps more important for AUD were policy developments in China where we believe many in the market got the story wrong. Domestic events took a back seat for AUD…

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