Former Chairman of IOOF defends disqualification proceedings brought by APRA
Clients Venardos, George
Jones Day is defending George Venardos in disqualification proceedings brought against the directors acting for George Venardos, a current director and former Chairman of IOOF Holdings Limited ("IOOF"), in a prosecution commenced by the Australian Prudential Regulation Authority ("APRA") in the Australian Federal Court. This was the first major prosecution by APRA in over 10 years and the first prosecution by any regulator following the Banking Royal Commission. The decision will be a test case for the scope of duties of directors and officers of superannuation entities.