Westpac has followed ASIC’s lead, launching a separate appeal to a ruling that it provided financial advice but not personal advice as part of a campaign encouraging customers to roll over external superannuation accounts.
The Australian Securities and Investments Commission has not ruled out a challenge to a ruling that two Westpac subsidiaries didn’t provide personal financial advice as part of a campaign encouraging customers to roll over external superannuation accounts.
A Federal Court judge on Friday reluctantly approved a $12 million settlement in the long-running class action against Bank of Queensland, saying it left almost nothing for those affected by the notorious Sherwin Ponzi scheme.