May 24 (Reuters) - Australia's Westpac Banking Corp WBC.AX did not manipulate a key exchange rate in order to increase profits, a court said on Thursday, rejecting charges levelled by regulator Australian Securities and Investments Commission (ASIC).
"In summary, I have rejected ASIC's case," Justice David Beach said in delivering the judgment in Melbourne. However, the judge also said Australia's second-largest bank had engaged in unconscionable conduct.