With a $150 billion FUMA I can see why CK was dismissive of APRA's concerns over a mistake costing a few million that one way or another had been rectified. From his point of view APRA was giving him grief over a couple of coins that fell down the back of the couch. The problem was that he misread the RC, APRA, the media and the public and everyones need to pass the buck onto someone. CK sat in the box and couldn't understand what the fuss was all about. I still think that this has been all about politics and blame shifting, rather than illegal or improper conduct.
I also think that the current IOOF share price mostly reflects "the vibe" rather than being based on the facts as they are currently known.
Ann: FUMA for the period ending 30 June 2019, page-17
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