The embattled wealth manager IOOF has pledged to rebuild trust with regulators and consumers after its reputation was badly damaged during the financial services Royal Commission.
The company - which was accused of not acting in the best interests of its superannuation clients - will spend as much as $30 million to ensure it meets additional licence conditions imposed by the banking regulator APRA.
Acting chief executive Renato Mota backed out of an interview with ABC's Peter Ryan despite an earlier commitment.
Here's my report from The World Today.
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