Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2020
Investor criticism of MLC acquisition
Investors criticized the price and financial risk of IOOF's proposed acquisition of MLC. The transaction was described by external analysts as high risk because of its scale, integration requirements and effect on the balance sheet.
2018
APRA proceedings against senior IOOF executives
APRA alleged that IOOF breached superannuation legislation and prudential standards after an accounting error led to an issue involving member entitlements and the use of superannuation reserves. APRA sought to disqualify five executives. The allegations caused significant market and reputational damage, although the court later rejected the disqualification application.