This is the new MLex platform. Existing customers should continue to use the existing MLex platform until migrated.
For any queries, please contact Customer Services or your Account Manager. Dismiss

Westpac anticipates $857 million earnings hit following Australian money-laundering lawsuit

( October 26, 2020, 01:51 GMT | Official Statement) -- MLex Summary: Westpac is expecting a A$1.2 billion ($857 million) hit to its earnings for the second half of the Australian financial year following a ruling in the money-laundering lawsuit against the bank. In a statement to the Australian Securities Exchange today, Westpac said its earnings would be reduced by A$816 million after tax combined with a previously announced A$404 million provision set aside for the case brought by Australia's anti-money laundering regulator, known as Austrac.Westpac's filing to the Australian Securities Exchange is attached below....

Prepare for tomorrow’s regulatory change, today

MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.


Know what others in the room don’t, with features including:

  • Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
  • Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
  • Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
  • Curated case files bringing together news, analysis and source documents in a single timeline

Experience MLex today with a 14-day free trial.

Start Free Trial

Already a subscriber? Click here to login

Documents

Related Sections