Please disregard all of the crap I wrote above. I hate being made a fool of.
The APRA legal action, especially the show cause notice is very serious indeed. I am incredibly disappointed by what I learned yesterday, barely a week after the AGM. How can Kelaher have so misread the frustrations at APRA?
I cannot see how the ANZ deal can proceed, how the ANZ Trustees can pass the member benefit test on this transfer.
The board and executive ructions will be very disruptive
All I can see is advisors leaving and negative FUM flows and without the ANZ transaction EPS will surely go backwards.
And this morning I hear the class action lawyers are getting prepared, and not just one firm.
What a mess.
Captain Barnacles, you were right.
Sold out yesterday lunchtime. What a mess.
Cheers..........Daicosisgod
IFL Price at posting:
$4.60 Sentiment: Sell Disclosure: Not Held
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