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Showing 1 - 10 of 22 results for %22Westpac Securities Administration%22

Westpac reports $7.2bn profit

KARREN VERGARA  |  MONDAY, 6 NOV 2023
... defended a class action in the Federal Court of Australia against BT Funds Management (BTFM), Westpac Securities Administration (WSAL) and Westpac Life Insurance Services (TAL Life Insurance Services) (WLIS), a former Group subsidiary. Superannuation ...

Westpac plans aggressive platforms play

JAMIE WILLIAMSON  |  WEDNESDAY, 21 JUN 2023
Bringing an end to years of speculation and sales discussions, Westpac will retain its platforms business, saying it intends to "aggressively compete" in the space. Despite having carried out a lengthy and competitive sales process, Westpac is going ...

ASIC not recommending general advice change

JAMIE WILLIAMSON  |  WEDNESDAY, 5 MAY 2021
... The findings follow ASIC's win over Westpac in the High Court in February, confirming that Westpac Securities Administration and BT Funds Management did provide personal financial advice in calls made to 14 customers regarding their superannuation. ...

High Court dismisses Westpac appeal

JAMIE WILLIAMSON  |  WEDNESDAY, 3 FEB 2021
... September 2016. Westpac won the original case in December 2018, with the Federal Court ruling that Westpac Securities Administration Limited (WSAL) and BT Funds Management (BTFM) had breached the Corporations Act when recommending customers rollover ...

Latest data reveals super admin problem

ELIZA BAVIN  |  TUESDAY, 10 MAR 2020
... issues with 1.4%. In terms of life insurers, TAL received the most complaints, followed by AMP Life, OnePath Life and Westpac Life. Data also revealed the nation's largest fund AustralianSuper received the most complaints at 262. About 122 of those were ...

BT fund to wind up

KANIKA SOOD  |  WEDNESDAY, 12 FEB 2020
... under management at the end of last year sat at $29 million. A recent review from the trustee (Westpac Securities Administration) concluded that given the small number of investors and low FUM following the 2012 stop to new investors; it was in the members' ...

ASIC wins appeal against Westpac companies

KANIKA SOOD  |  MONDAY, 28 OCT 2019
... encourage customers to roll over external superannuation accounts into their existing accounts with Westpac Securities Administration Limited and BT Funds Management. ASIC was primarily concerned with the telephone calls. The corporate regulator claimed ...

BT advice boss lands new role

KANIKA SOOD  |  WEDNESDAY, 7 AUG 2019
... services sector is transforming, creating growth opportunities." Wright was last year questioned about the conduct of a Westpac adviser who recommended securities to his clients without taking their individual circumstances into account and how the company ...

ASIC appeals Westpac Federal Court decision

JAMIE WILLIAMSON  |  MONDAY, 18 FEB 2019
... despite not being licensed to do so. In December 2018, Justice Jacqueline Gleeson determined Westpac Securities Administration Limited (WSAL) and BT Funds Management (BTFM) had breached the Corporations Act in 2014, during two telephone campaigns in ...

ASIC and Westpac court battle sees mixed outcome

DARREN SNYDER  |  FRIDAY, 4 JAN 2019
... to breach the Corporations Act. Judge Jacqueline Gleeson said ASIC failed to demonstrate that Westpac Securities Administration Limited (WSAL) and BT Funds Management (BTFM) provided personal financial product advice to 15 customers over the consolidation ...
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