Ann: IOOF response to APRA notice and action, page-42

Either Kelaher and the BOD are delusional or this truly came out of the blue for them as well as shareholders. Their recent AGM and Investor Briefing gave no hint that this was in the wings. I'd like to see the ANZ deal called off, Kelaher and the BOD sacked and an off market mother of all buy backs. The management have badly misread the regulator and the RC and IMO this is why they have been targeted - this action is APRA's way of saying "if you don't understand what you've done wrong we'll need to spell it out for you!"