Ann: IOOF update on APRA licence conditions, page-19

HT1
Quoting "None of us liked it when the Aust cricket team did not play by the rules. They were penalised and justly so. The same applies to IFL. they need to realise that they are not above the law"

The cricket analogy misses my previous point about government's blunderbuss approach to perceived transgressions of the financial industry. When the cricketers were penalised, this didn't collaterally penalise the innocent paying public. In my view, government + fin. regs. should have adopted an effective, efficient but less adversarial process (here the sporting theatre does have an analogy). The up-shot has been smashed insto share-prices and probably dividends too, so the poor SMSF players/spectators will be struggling to stay in the game, especially if Mr Shorten's team take to the field later in the year with changes to the superannuation rules (but he won't go to goal for that, will he ?)