It appears most on here are only commenting on short term price fluctuations
(Think I'll leave worrying about daily price movements to the traders!)
We all know the market often over reacts (up or down), however the longer term issue with a formal investigation is about ongoing sentiment and the prospect of any possible longer term penalty.
We know that NAB previously self reported however McEwen's comments appear to confirm that remedial action has not been perhaps as good as it should have been.
Any possible fine may not end up being "material" however main effect is market sentiment, so not surprising we pulled back to WBC levels, noting also WBC and ANZ also declined (to lesser degrees)
(I don't expect it to get too far out of step with its peers)
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