ASIC v Westpac (financial advice — best interests duty)
[2019] FCA 1244
civil penalty8 Aug 2019
Respondent
Westpac Securities Administration + BT Funds Management
Facts
Westpac super telephone-based campaigns crossed the line from general to personal advice without complying with best interests duty.
Outcome
Federal Court found contraventions of best interests duty + related FSP obligations. Substantial remediation ordered.
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.