Insignia Subsidiary Agrees to $50M Settlement

Insignia Financial Ltd (AU:IFL) has released an update.

Insignia Financial Ltd’s subsidiary OnePath Custodians has agreed to a $50 million settlement in a class action suit regarding historical interest rate issues and adviser commissions, without admitting liability. The settlement, pending court approval, will see OPC contribute $22 million and will impact the company’s first half 2025 financials, excluding it from its underlying net profit after tax.

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