Westpac Banking Corp staff inappropriately gave personal financial advice when m...
FILE PHOTO: A pedestrian looks at his phone as he walks past a logo for Australia's Westpac Banking Corp located outside a branch in central Sydney, Australia, November 5, 2018. REUTERS/David Gray
By “closing” sales and getting customers to transfer pension money in the same phonecall, “there was an implied recommendation ... that the customer should accept the service”, the three judges wrote in a ruling published on Monday. The Federal Court appeal tribunal dismissed an earlier court ruling that Westpac’s advice was only “general” and therefore allowed.
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