This doesn't concern me, what is concerning for me is if the St Andrews acquisitions doesn't go through, my valuation was based on that going through. After some thought I can see why APRA and ASIC could potentially be concerned, Freedom also owns a financial advisor Spectrum with some 300 advisors, if Freedom owns St Andrews it will become an advisor, distributor and underwriter, perhaps the regulator fear this will give them to much market power when companies are moving away from vertical integration to avoid scrutiny. Let's see how well the executive team can negotiate and work with ASIC/APRA in making necessary changes.
FIG Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
