Under probe: The Westpac office in the Central Business District of Sydney. Australia’s securities regulator is probing the bank on allegations of insider trading. — Reuters
SYDNEY: Australia’s securities regulator is probing Westpac Banking Corp on allegations of insider trading, just months after the country’s second-biggest lender paid a record fine to settle breaches of anti-money laundering laws.
The allegations relate to Westpac’s role in executing a A$12bil (US$9.3bil or RM38bil) interest-rate swap transaction with a consortium of AustralianSuper Pty Ltd and a group of IFM entities in October 2016, according to a statement yesterday from the Australian Securities & Investments Commission.
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