Business
ASIC probe finds advice ‘deficiencies’ at IOOF – The Australian Financial Review
The investigation flies in the face of chief executive Renato Mota’s repeated claims that IOOF had ‘learned the hard lessons’ of the Hayne royal commission.
That could include additional remediation not included in IOOFs hefty $223 million bill at last count. IOOF has been approached for comment.
ASIC will review the implementation and progress of the remedial action plans after each phase is finalised, and again at conclusion, to consider whether further regulatory action is required, the statement says.
The finding of a significant portion of sub-standard advice flies in the face of IOOF chief executive Renato Motas repeated claims that the company…
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