If you really want to know what has gone so drastically wrong with IOOF.
It would be in your benefit for a 2 hour read of the Royal Commision transcripts of the 17/08/18.
Because I don’t know how to paste on HC just Google “ Royal Commision transcripts IOOF “ then second page down 20180817 { apologies for 1980 way of doing it }
At the end of your readings you will understand fudiciary interests of a Company v members interests of a Company.
You will also understand that a Superannuation Reserve is owned by the members not by the Company. The ATO states contributions from this reserve count towards the contribution cap. So therefore it’s ours not there’s.
After you read the RC transcripts you will see why the axe had to be swung.
Just a reminder I do not hold , I am just trying to educate myself and other hot copperites.
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IFL Price at posting:
$4.60 Sentiment: None Disclosure: Not Held
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