trending Market Intelligence /marketintelligence/en/news-insights/trending/7KUtA38J3kZl5GfPCCgwlw2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Westpac to pay A$9.2M fine for adviser misconduct

Street Talk - Ep. 64: Coronavirus jumpstarts digital adoption

Street Talk Podcast

Street Talk - Ep. 63: Deal talks continue amid bank M&A freeze, setting up for strong Q4

Street Talk Podcast

Street Talk - Ep. 62: 'Brutal' outlook for oil demand offers banks in oil patch no relief

Amid Q1 APAC Fintech Funding Slump, Payment Companies Drove Investments


Westpac to pay A$9.2M fine for adviser misconduct

Westpac Banking Corp. will need to pay a penalty of about A$9.2 million for breaches of the Corporations Act after one of its financial advisers failed to act in the best interests of his clients.

The Federal Court of Australia on Dec. 19 ordered the bank to pay the penalty with respect to 22 contraventions of the Corporations Act.

The Australian Securities and Investments Commission brought the court case against Westpac in June 2018. ASIC's court case relates to poor financial advice provided by a former Westpac financial planner, Sudhir Sinha, in breach of the best interest duty and related obligations under the act.

According to internal Westpac reviews, there had been concerns about Sinha's compliance history but he continued to receive "high achievement" ratings from the bank. Sinha was dismissed by Westpac in 2014 but it was only in March 2015 that the bank reported his conduct to ASIC.

The court found that Sinha failed to act in the best interests of his clients and provided inappropriate financial advice.