September 20, 2019 / 12:50 AM / a month ago

IOOF says Australian court rules against disqualifying top execs

Sept 20 (Reuters) - IOOF Holdings said on Friday an Australian court ruled that the wealth manager did not breach pension industry laws, and that it would not disqualify top IOOF executives.

IOOF’s Managing Director Christopher Kelaher and Chairman George Venardos stepped aside in December after the Australian Prudential Regulation Authority alleged that they failed to act in their customers’ interests. (Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Muralikumar Anantharaman)

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