ASIC v Westpac (BBSW manipulation)
civil penalty24 May 2018Penalty $3.50M
Respondent
Westpac Banking Corporation
Facts
ASIC alleged Westpac engaged in market manipulation and unconscionable conduct in connection with BBSW (Bank Bill Swap Rate) setting.
Outcome
Federal Court imposed $3.3M penalty + court-enforceable undertaking + $5M consumer protection contribution.
Read the source
https://asic.gov.au/about-asic/news-centre/find-a-media-release/Rules Mate links to the regulator's own publication. We do not republish full decision text. Always verify the latest status against the source before acting.