Investors Shake Off Westpac Woes As APRA Issues EU

Investors have again ignored the step-up in regulatory action against Westpac by the key overseer, APRA. Fresh from criticising the bank (the country’s second-largest) immature culture and poor oversight on responsibilities in risk management and assessment earlier in the week, Westpac shares dipped by just 0.5% to $20.20 yesterday after APRA revealed it had forced the bank to agree to a court-enforceable undertaking (or CEU) to lift its game.

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