IOOF directors under scrutiny
The Australian Prudential Regulation Authority (APRA) is taking action against IOOF.
It said it was concerned they had failed to act in the best interest of superannuation members in Australia.
It had started disqualification proceedings and was seeking to impose new license conditions and issue directions to regulated entities in the IOOF group.
The individuals in the disqualification proceedings including managing director Chris Kelaher and chief financial officer David Coulter, as well as the chair of the board and the company secretary, among others.
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