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(Reuters) - Australia's corporate regulator said on Wednesday that a court found Westpac engaged in unethical conduct while carrying out an A$12 billion ($7.88 billion) interest rate swap transaction in 2016, the largest of its kind in the country.
The Australian Securities and Investments Commission (ASIC) said Westpac, one of the country's biggest banks, will pay a maximum penalty of A$1.8 million, along with A$8 million for the regulator's litigation costs.
Westpac allegedly engaged in pre-...
>>> Read more: Australia's Westpac found guilty of misconduct in 2016 rate swap deal
The Australian Securities and Investments Commission (ASIC) said Westpac, one of the country's biggest banks, will pay a maximum penalty of A$1.8 million, along with A$8 million for the regulator's litigation costs.
Westpac allegedly engaged in pre-...
>>> Read more: Australia's Westpac found guilty of misconduct in 2016 rate swap deal
