IOOF rebutts newspaper allegations
Publicly-listed financial services group, IOOF has issued a statement to the Australian Securities Exchange (ASX) defending its conduct in the face of allegations published in the Sydney Morning Herald.
The statement has been issued at the same time as shares in the group suffered a decline today following publication of claims relating to whistle-blower allegations which included insider trading and front-running.
In the ASX statement issued today, IOOF defended its strong compliance record and said it took seriously any suggestion that its high standards were not being met in its different businesses.
"IOOF has a good record of client satisfaction and will continue to act at all times in the client's best interests as a leading financial services provider," the statement said. "To the best of our knowledge and based on reasonable enquiries, none of the issues raised in the article will cause any loss to any IOOF client, past or present."
The IOOF statement said that most of the claims had been promoted by a former employee who was in a legal dispute with the company and were historic in nature.
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