Notwithstanding the regulatory headwind, at the very least the...

Notwithstanding the regulatory headwind, at the very least the Royal Commission has provided everyone some insights on "what not to do", and for industry players to report and remediate early before the lawyers get hold of them next time.

On the acquisition front, one would imagine FIG still has some firepower in a low-gearing environment to do more deals for further growth in the coming 12 - 18 months, especially if the big banks and large players are under continued pressure to offload their non-core businesses. Orton appears to have both Aus and Asia Pac domain, integration and management experience.