key to all of this in my opinion
a) required changes to structure over APRA regulated entities. essentially a splitting out of the board, with a seperate board responsible for these entities.
I think this is actually fair given all the reading coming through.
b) disqualification of five individuals. I think given APRA own submissions to the royal commission, they have blown up their own case in this. IOOF will use APRA own submissions and further internal correspondence documents against APRA in this.
The key to solving (b) is for the board to prove they are fixing (a)
I am not a lawyer so take this post as an unqualified opinion.
I am still of a buy opinion on ioof. hopefully I will get more price weakness to buy more.
Ann: IOOF response to APRA notice and action, page-138
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