Good question- Having experienced the deregulation of the Dairy...

Good question- Having experienced the deregulation of the Dairy industry of WA in 2000 I saw how decisions wiped value from the hands of the little people. Decisions made by those in political and corporate positions, with little to no regard to peoples whose financial lives were affected from this.
This type of action isn't insular by any means.

I have a family friend who is caught up by the BOLR fiasco. They were a recent entrant to the world of BOLR around 2016 and paid a handsome price for a business, with their only finance option being AMP bank and having to put their house in the hands of AMP for the privilege. They did their due diligence, spoke to existing planners, associations and with confirmation on the safeguards by the sales reps from AMP of the BOLR contract- that little safeguard was identified and advice provided was that the each item to change the contract was in sequence of previous contractual requirements. They were fully aware of the FOFA reforms and changes that were glide pathed within the industry- knowing that this would affect income and business value. They were sold by AMP a book that wasn't totally as outlined, there were 100's of client details that were incorrect or didnt even exist- so in the end paid far greater than the true value.
Importantly, AMP controlled the market value, the ownership of clients. It was an above market rate with severe restrictions on trade and movement to other licensees. AMP set the terms and were very happy to third line force borrowing arrangements and value- so changing the terms without compensation basically left this family financially buggered- they are still paying off this massive debt on an inflated value.
I hope that justice prevails and that corporations are held to account for their actions. This situation is not just- plain and simple.

I bother to comment here for a bit of jousting and because there are so many pricks on here that for some reason actually root for this company and directors. In the end those in support want to do so to make money and improve their lives- good on them. I hope that the judgement is in favour of the planners and that a clear message is sent to other corporations that they must act with integrity in all of their dealings. Everyone else has to, so why not them?