Aug 20 (Reuters) - Westpac Banking Corp WBC.AX :
* WESTPAC ACKNOWLEDGES PROCEEDINGS COMMENCED BY ASIC
* ALLEGATIONS CONCERN INADVERTENT CHARGING OF FINANCIAL ADVISER FEES TO 404 CUSTOMERS TOTALING $130,006
* ACKNOWLEDGES ASIC PROCEEDINGS AGAINST 2 UNITS, BT FUNDS MANAGEMENT AND ASGARD CAPITAL MANAGEMENT LIMITED
* BTFM & ACML ACCEPT ALLEGATIONS MADE AND DO NOT INTEND TO DEFEND PROCEEDINGS
* BTFM AND ACML APOLOGISE THESE ERRORS OCCURRED & WILL WORK WITH ASIC TO RESOLVE PROCEEDINGS AS QUICKLY AS POSSIBLE