I must admit IFL have sailed past the regulator far better than I expected. I expected they would be in a similar boat to the banks financial advice businesses and to be honest I am still scratching my head as to why they are different. Either its a timing issue and 2020 will be their year of pain or there is something fundamentally different between the businesses that I dont understand (very possible).
Also its not just a "risk of provisioning". i.e. the risk is simply that they need to put another $x00m aside and the problem is fixed. IMO the remediation program fundamentally ruins the relationships that they have with the intermediaries they rely on for all their revenue.
IFL Price at posting:
$7.89 Sentiment: None Disclosure: Not Held
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