Originally posted by 8horse
Not just key management issues,
also impose additional licence conditions.
then likely class action.
might be worse than AMP case.
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The Australian Prudential Regulation Authority has commenced disqualification proceedings against IOOF entities, directors and executives for failing to act in the best interest of super members.
The authority is seeking to impose additional licence conditions and issue directions to APRA-regulated entities in the IOOF group.
Yeah nice scare 8horse...looking to short?
That article was 4 days ago.
APRA takes action against IOOF for failing to act in best interests of ...
https://www.apra.gov.au/.../apra-takes-action-against-ioof-failing-act-best-interests-sup...
4 days ago - The
Australian Prudential Regulation Authority (APRA)
has today announced a number of actions
against IOOF entities,
directors and executives for failing to act in the best interests of superannuation members. ... These
entities have 14 days to respond to this notice.
IFL is looking to work with APRA. I think that is a good sign. Wonder how the Banks will go?
cheers
(20min delay)