ASIC’s chief enforcer has promised to expedite its investigation into Westpac’s handling of alleged money laundering breaches, as a similar investigation into Commonwealth Bank, drags on three years after the scandal was first made public. The investigations focus on potential breaches of continuous disclosure obligations in relation to the money laundering breaches admitted by Commonwealth Bank in 2018 and Westpac in 2020.

https://www.afr.com/companies/financial-services/asic-to-fast-track-westpac-probe-prepares-for-wave-of-wind-ups-20200715-p55c98