The prudential regulator has blasted financial heavyweight IOOF,accusing the company's management of misleading its board.
Gobsmacking testimony at the royal commission won't distract from the shortcomings on display
The financial giant was accused to using money belonging to members to"repay"them after a multi-million dollar stuff up.
The financial services giant tendered hand-written,scrawled records in response to questions from the royal commission,with its CEO unable to identify who had taken them.
Royal commission's focus on Questor Financial Services comes after an investigation by Fairfax Media in 2015.
Governance and selling practices of retail and industry super funds will be in the spotlight.