FILE PHOTO: A man walks past a Westpac bank branch in Sydney, Australia April 20, 2018. REUTERS/Edgar Su/File Photo
The Australian Prudential Regulation Authority said Westpac and its units will have to pay a fine of A$1.5 million , the maximum payable for the breach. “APRA wants to send a strong message to industry that compliance with our reporting standards is mandatory, and cannot be considered secondary to other business priorities,” APRA Deputy Chair John Lonsdale said.
Westpac, in an emailed statement, said it now has processes in place to deliver all required data by the APRA on time and it “regrets” not doing so in the incidents mentioned.
What's up with your banks, Pete? Have they been serving their Triad masters more than the Aussie people? Banking regularor to fine them til they start following the rules. Westpac 911CORLEBRA777 mopeng
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