The AIOFP has announced the resignation of chair and director Peter Daly in the wake of the Linchpin Capital “failure”.
In a statement, AIOFP executive director Peter Johnston announced Mr Daly had resigned “with immediate effect” following the Federal Court’s decision to place the assets of Linchpin Capital, of which Mr Daly is a director, into receivership.
“Peter believes the fallout from the Linchpin failure has unfortunately rendered his position untenable,” Mr Johnston said.
“As he has constantly done over the past 8 years, the AIOFP and its members best interests have always come first.”
Mr Johnston added that the Linchpin failure “has no ramifications for any other member practice”.
“The AIOFP Board will be meeting shortly to appoint a replacement for Peter and a new Chair,” he said.
A Greens senator who was a key agitator for the royal commission has defended his reasoning in pushing for the inquiry, but conceded that it’s not c...
APRA’s sweeping changes to income protection policies are set to force more claimants back to work sooner, as the life insurance industry faces more...
The latest enforcement update from ASIC has noted that court cases brought by the regulator in the six months to December last year under its 'why not...
Get notifications in real time and stay up to date with content that matters to you.
