NSW Liberal senator Andrew Bragg has lodged a request for ASIC’s submission to the government’s quality of advice review after it was only released in heavily redacted form.
ASIC shields ASX in IOOF shareholder row
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The corporate regulator has refused to release secret conversations with the Australian Securities Exchange over IOOFâs controversial $1 billion capital raising, as the wealth giantâs irate shareholders lodge formal complaints.
The Australian Securities and Investments Commission has released just four of 21 documents identified following a freedom of information request about the much-maligned IOOF capital raising in September last year.
IOOF CEO Renato Mota has acknowledged shareholder angst.Â
Eamon Gallagher
The superannuation and financial advice provider unveiled an ambitious $1.4 billion acquisition of National Australia Bankâs MLC Wealth franchise on August 31, of which a full $1.04 billion would be bankrolled by a fully underwritten placement to institutional investors and an entitlement offer to existing shareholders.