Ann: Memorandum of Understanding with NAB Financial Planning, page-289

MOU's are commercial agreements. However they are not commercial contracts unless explicitly stated otherwise.
So it wasn't made bigger than it was in the TH.

In this case IAM made it clear it was non binding hence non contractual.

Also it's not the TH that's in question it's the actual MOU Ann this morning.

With that being said I also know IAM management have known Sentry CEO for years (15-20yr from memory) and they have a comfortable friendship together. I don't think Sentry would be petty enough to take advantage of IAM services via MOU. Likely it will become binding imo.

NAB however I don't know the deal makers involved so won't be able to comment likelihood if this MOU will become contractual. I know Mark has a history working with NAB tho.

My gut feel this is a silly misunderstanding and overreaction. Those who bought today could be well rewarded, I personally didn't buy and take on the risk I want to hear both sides properly.
But I believe if this is IFAs fault everyone that did exit will be just as desperate to get back in.
If anything IFA took on the biggest risk with their article challenging to negotiations of PC using one "spokesperson" lols.

Other than that all else I can add is the comparisons being made with XTV is ridiculous. Remember XTV mentioned a formal letter of intent for purchase of about $100m which would be bound via signature.
Making it a legal bound document so it would have huge repercussions if AT&T didn't follow through. Hence why they were landed in such hot water and AT&T forced for an apology on Bloomberg.
A non-binding MOU where as doesn't contain as much weight or implications. So even if this is a wrong MOU there will be no consequence on it other than credibility and governance.
Remember a contract must contain 4things:
Binding Intent
Agreement
Consideration
Capacity- this could be another part of the miscommunication for the MOU. The person that authorised the MOU from NABs party. Did they have the capacity or position too?

Anyways solid ramblings from me, back into my cave.