Ann: Business Update 2022 AGM, page-40

Long time lurker on these boards.
I have owned and since sold SEQ in the past.
I hold none now but stil follow along hoping my exit decision was right.
I think joewolf has really been making some insights that resonate with me. To summarise my take lifting a lot from joewolf but adding a bit of my own slant.

1. Why wasn't remediation costs of this size known/declared as incoming sooner? Maybe the exact details couldn't be told to market till recently but surely there were earlier points to signal major eremdiation cost was incoming?

1. a). Is there potential for other remediation incoming and has SEQ discussed the potential benefit from increasing oversight of their advisers/increased compliance/audit to de-risk future remediation potential versus the cost saving in this area by assuming it is truly a one-off event? vs maybe they already have robusts checks and balances and there is nothing that could have been done to stop a rogue 2019 adviser and it is just one of those things.

2. SEQ seems like it should be a growth oriented company by being horizontally integrated along professional financial services areas but the focus on growing dividends isn't quite complementary to this and seems more likely (as noted elsewhere) a function of several senior management persons having their own substantial holding and wanting div's.

2.a) I wonder that Garry (and board) isn't trying to build something attractive enough to get itself bought by a big fish at a reasonable premium and he can exit with his own big pay-day.
2.b) Too many of these kind of companies have been low margin historically (newsletters/stock pumping videos/fin advice licensing/SMSF admin) but the the opportunity to cross-and make the service based side of financial services work more effectively is what made it interesting for me. There seems to be a total lack of this occuring from what I can understand.