Sorry - Talk Is Cheap

Westpac's Maxsted apologises for culture and governance failures

Summary: 

"Sorry" didn't cut it at Westpac's 2019 AGM. Shareholders grilled and heckled Westpac chairman Lindsay Maxsted for more than six hours at the AGM, putting the board on notice that further accountability will be sought.

The AGM came just weeks after the financial crimes regulator Austrac launched legal action in the Federal Court against the bank, alleging 23 million breaches of anti-money laundering laws, including links to payments funding child exploitation.

A beaut report from Joyce Moullakis & Richard Gluyas.

Article Information
Category: 
Banking Company: 
Westpac
Author: 
Joyce Moullakis & Richard Gluyas
Source: 
The Australian
Date First Published: 
12 Dec 2019
Posted By
Peter Brandson
Peter Brandson's picture

Bank Victims Horror Stories

From Extend RC Parliament Event
>> See ALL Horror Stories List

Bank victims, supporters and concerned citizens want to see...
ANZ CEO Shayne Elliott finally admits documents they used...
In the past bankers liked to present themselves as...
How low can a bank go? Setting up a farmer to strip the...

Recent News & Articles

It's time to kill the CASH BAN Bill. Many pollies are too...
In a country as wealthy as Australia why are we seeing such...
Election 2019 is our chance to show we are not falling for...

Need Support?

Financial Help
Tips & Resources to help you avoid or manage financial difficulty...

>> read more 

Emotional Help
Financial stress is a major factor in depression and anxiety, if you are suffering you can get help...

>> read more 

Poll

Should bank CEOs and loan officers face asset seizures and jail terms for criminal banking practices?

Socialize with us

Join BRN -Take Action



               


Go to top