The Westpac Decision

by AFIA

On 13 August 2019, the Honourable Justice Perram handed down his landmark decision for the Australian Securities and Investments Commission v Westpac Banking Corporation (Liability Trial) [2019] – finding Westpac had not breached the responsible lending provisions of the National Consumer Credit Protection Act 2009 (Cth) (Credit Act). ASIC filed an appeal and the matter was heard in February 2020. In June, the Full Federal Court handed down its majority decision two to one dismissing ASIC’s application. A decision that will have major implications for the financial services industry.

This webinar is focused on the key reasons for the decision, where two experts in the field - Katherine Forrest, Partner, KWM and Steven Klimt, Partner, Clayton Utz - provide members with insights into the legal and practical implications for the industry.

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