How to take care of your mental health after the Christchurch attacks

The world was saddened and distressed to learn of the shocking Christchurch mosque attacks on Friday, which claimed the lives of 50 people and injured nearly as many. Since then we’ve heard hear...

Richard Bryant, Professor & Director of Traumatic Stress Clinic, UNSW - avatar Richard Bryant, Professor & Director of Traumatic Stress Clinic, UNSW

Christchurch attacks provide a new ethics lesson for professional media

The difference in the Christchurch attacks is that propaganda supplied by the perpetrator was available to the professional media, even as the story was breaking.Wes Mountain/The Conversation, CC BY-N...

Denis Muller, Senior Research Fellow in the Centre for Advancing Journalism, University of Melbourne - avatar Denis Muller, Senior Research Fellow in the Centre for Advancing Journalism, University of Melbourne

Autonomous transport will shape our cities' future – best get on the right path early

Cities have a choice of autonomous vehicle futures: cars or mass transit vehicles. Which one we adopt is likely to determine how people-friendly our cities are.SueBeDoo888/ShutterstockA unique opport...

Peter Newman, Professor of Sustainability, Curtin University - avatar Peter Newman, Professor of Sustainability, Curtin University

What parents need to know about the signs of child sexual abuse

Significant changes in your child's behaviour could signal they are being sexually abused.from shutterstock.comRecent events, including the conviction and sentencing of George Pell for sexually abusin...

Larissa Christensen, Lecturer in Criminology & Justice  |  Co-leader of the Sexual Violence and Research Prevention Unit (SVRPU), University of the Sunshine Coast - avatar Larissa Christensen, Lecturer in Criminology & Justice | Co-leader of the Sexual Violence and Research Prevention Unit (SVRPU), University of the Sunshine Coast

Curious Kids: what makes an echo?

Do you think you could make an echo at Echo Point in Katoomba?Flickr/Amanda Slater, CC BYCurious Kids is a series for children. If you have a question you’d like an expert to answer, send it to ...

Noel Hanna, Leading Education Professional (Physics), UNSW - avatar Noel Hanna, Leading Education Professional (Physics), UNSW

Super power: why the future of Australian capitalism is now in Greg Combet's hands

Greg Combet wants to use his super power to free business from being hostage to short-term share-price and profit measures.ShutterstockRight now Greg Combet is arguably the most powerful man in Austra...

Danny Davis, Executive Director, Australian Institute of Performance Sciences, and researcher at, La Trobe University - avatar Danny Davis, Executive Director, Australian Institute of Performance Sciences, and researcher at, La Trobe University

Slimmed-down migration program has regional focus

The government has announced a reduced annual cap on migration of 160,000 for each of the next four years, as well as measures to stream a greater proportion of migrants to regional areas and boost th...

Michelle Grattan, Professorial Fellow, University of Canberra - avatar Michelle Grattan, Professorial Fellow, University of Canberra

Anxieties over livestreams can help us design better Facebook and YouTube content moderation

Livestream on Facebook isn't just a tool for sharing violence – it has many popular social and political uses. glen carrie / unsplash, CC BYAs families in Christchurch bury their loved ones foll...

Andrew Quodling, PhD candidate researching governance of social media platforms, Queensland University of Technology - avatar Andrew Quodling, PhD candidate researching governance of social media platforms, Queensland University of Technology

We did a breakthrough 'speed test' in quantum tunnelling, and here's why that's exciting

Future technologies will exploit today's advances in our understanding of the quantum world.Shutterstock/PopTika When you deal with things at the quantum scale, where things are very small, the world ...

U. Satya Sainadh, Postdoctoral researcher, Technion - Israel Institute of Technology - avatar U. Satya Sainadh, Postdoctoral researcher, Technion - Israel Institute of Technology

Politicians suing for defamation is usually a bad idea: here's why

There are better ways for politicians to address defamation concerns than through the courts.AAP/Ellen SmithWhen The Project host Waleed Aly began his editorial in the wake of the Christchurch massacr...

Michael Douglas, Senior Lecturer in Law, University of Western Australia - avatar Michael Douglas, Senior Lecturer in Law, University of Western Australia

Births, deaths and rituals: a revamped Ten Days on the Island explores Tasmania's past and present

Youth dance troupe Stompin performed their thought-provoking work Nowhere as part of this year's Ten Days on the Island.Jacob Collings, Lusy ProductionsThis year marks the tenth biennial Tasmanian Art...

Asher Warren, Lecturer, University of Tasmania - avatar Asher Warren, Lecturer, University of Tasmania

A guide for parents and teachers: what to do if your teenager watches violent footage

The world is reeling in the aftermath of the horrific shootings in Christchurch. The attack has also raised a number of side issues, including the ethics of broadcasting the live stream of the attack...

Rachael Sharman, Senior Lecturer in Psychology, University of the Sunshine Coast - avatar Rachael Sharman, Senior Lecturer in Psychology, University of the Sunshine Coast

As home care packages become big business, older people are not getting the personalised support they need

Many older Australians prefer to stay at home than enter residential aged care – but the process of securing home care is riddled with complexities.From shutterstock.comThe Royal Commission into...

Lyn Phillipson, NHMRC-ARC Dementia Development Fellow, University of Wollongong - avatar Lyn Phillipson, NHMRC-ARC Dementia Development Fellow, University of Wollongong

Two ways to fund NSW election promises as property prices crash

Previous NSW election promises were easily funded. Not so this time.ShutterstockState elections are always about spending promises, but this time not much is being said about how they will be funded.L...

Gareth Bryant, Lecturer in Political Economy, University of Sydney - avatar Gareth Bryant, Lecturer in Political Economy, University of Sydney

‘Rape Day’: A new video game glorifying sexual assault raises questions about regulation

nhungboon/ShutterstockA graphic new video game called Rape Day, set to launch in April, triggered a swift and widespread public outcry.Created by an independent developer, Rape Day is a set in a zombi...

Dr Marika Guggisberg, Research and Teaching Academic in Domestic and Family Violence, CQUniversity Australia - avatar Dr Marika Guggisberg, Research and Teaching Academic in Domestic and Family Violence, CQUniversity Australia

Curious Kids: why do we have two kidneys when we can live with only one?

Right now, your kidneys are getting rid of all things your body does not need. They do this by 'cleaning' your blood. ShutterstockCurious Kids is a series for children. If you have a question you&rsqu...

Brooke Huuskes, Lecturer in Human Anatomy, Physiology Anatomy & Microbiology, La Trobe University - avatar Brooke Huuskes, Lecturer in Human Anatomy, Physiology Anatomy & Microbiology, La Trobe University

Would you like to grow old at home? Why we’re struggling to meet demand for subsidised home care

In December, more than 127,000 Australians were waiting for a home care package.From shutterstock.comThe Royal Commission into Aged Care Quality and Safety is this week turning its focus to aged care ...

Michael Woods, Professor of Health Economics, University of Technology Sydney - avatar Michael Woods, Professor of Health Economics, University of Technology Sydney

We need a legally binding treaty to make plastic pollution history

The world urgently needs to move past plastic. Veronika MedunaA powerful marriage between the fossil fuel and plastic industries threatens to exacerbate the global plastic pollution crisis. The Center...

Trisia Farrelly, Senior Lecturer, Massey University - avatar Trisia Farrelly, Senior Lecturer, Massey University

White nationalism, born in the USA, is now a global terror threat

The recent massacre of 50 Muslim worshippers at two mosques in Christchurch, New Zealand is the latest confirmation that white supremacy is a danger to democratic societies across the globe.Despite Pr...

Art Jipson, Associate Professor of Sociology, University of Dayton - avatar Art Jipson, Associate Professor of Sociology, University of Dayton

Super power: why the future of Australian capitalism is now in Greg Combet's hands

Greg Combet wants to use his super power to free business from being hostage to short-term share-price and profit measures.ShutterstockRight now Greg Combet is arguably the most powerful man in Austra...

The Conversation - avatar The Conversation

Does most of your paycheck go to rent? That may be hurting your health

Families that spend more on housing may have less to spend on their health.Tero Vesalainen/shutterstock.comNew data on health across the U.S. shows that high housing costs are harming Americans’...

Jessica Owens-Young, Assistant Professor of Health Studies, American University - avatar Jessica Owens-Young, Assistant Professor of Health Studies, American University

The politics of fear: How it manipulates us to tribalism

The cruel murder of 50 people in New Zealand was another tragic reminder of how humans are capable of heartlessly killing their own kind just based on what they believe, how they worship, and what rac...

Arash Javanbakht, Assistant Professor of Psychiatry, Wayne State University - avatar Arash Javanbakht, Assistant Professor of Psychiatry, Wayne State University

What is the significance of Friday prayers in Islam?

Muslims praying in a Chicago mosque following the shooting in New Zealand, on Friday, March 15.AP Photo/Noreen NasirFollowing the terror attack on two New Zealand mosques last week, many Muslim commun...

Rose S. Aslan, Assistant Professor of Religion, California Lutheran University - avatar Rose S. Aslan, Assistant Professor of Religion, California Lutheran University

Very rarely does a judge tear up a multimillion-dollar penalty signed up to by both the regulator and the alleged perpetrator.

Yet that’s what Federal Court judge Nye Perram did on Tuesday, throwing out a A$35 million settlement between Westpac and the the Australian Securities and Investments Commission over its alleged failure to properly assess whether borrowers could meet their repayments before signing them up to mortgages.

Agreed settlements are common

In commercial litigation, as in most litigation, there is an emphasis on trying to settle matters early before they are heard in court.

In criminal law matters the prosecutions encourage early guilty pleas in exchange for lower penalties.

The Australian Securities and Investments Commission (ASIC) has been increasingly resorting to early settlements as a means of achieving cheaper and quicker outcomes.

The quick win for ASIC is an enforceable undertaking and a media release. The quick win for the other party is avoiding a drawn-out court case and being able to get on with its business.

Courts usually rubber-stamp them

Where the alleged breach of the law is serious, necessitating a large penalty, a judge has to formally approve the settlement, in a hearing until now regarded as something of a rubber-stamping exercise.

As the Hayne Royal Commission into the Misconduct in Financial Services has pointed out, the downside of such quick settlements can be that the facts aren’t established in court and the law isn’t tested.

Where they are established and the law is tested, as Justice Yates did earlier this year in Australian Transaction Reports and Analysis Centre versus Commonwealth Bank of Australia very big penalties can be handed down - A$700 million for more than 50,000 breaches of the Anti-Money Laundering and Counter-Terrorism Financing Act.

Read more: Commonwealth Bank's $700 million fine will end up punishing its customers

Along with it were landmark judgments that establish the scope of the law and tell firms what to avoid in the future.

This time the court said no

On Thursday Justice Perram in the Federal Court sought the right to do the same.

He rejected the joint application for settlement between ASIC and Westpac Banking Corporation for a penalty of A$35 million.

The problem, as he pointed out was that it was not clear from the agreed facts what actual contraventions of the National Consumer Credit Protection Act 2009 Westpac had been accused of.

He asked ASIC and the Westpac to redraft the agreed settlement and return to court by 27 November 2018.

To establish the law and what happened

The case matters because the Financial Services Royal Commission has been examining the use of computer programs to determine the ability of borrowers to repay loans.

It is possible that many Westpac loans were approved to customers who would have been found to be unable to meet the repayments had their individual circumstances been examined, and it is possible that is in breach of the law.

Read more: Consumers need critical thinking to fend off banks' bad behaviour

But without a clear judgment or a clear statement of facts for the court to examine, or a clear judgment from the court, it is impossible to tell.

That’s why Justice Perram said no, to establish what the law requires and what Westpac did.

Authors: The Conversation

Read more http://theconversation.com/behind-the-judgment-why-the-federal-court-tore-up-a-35m-settlement-between-asic-and-westpac-over-lending-standards-106915