I'm inclined to revise my prediction. After a conversation with a cluey friend earlier today I wonder if the ASIC revised financial requirements for platform operators has anything to do with this.. scratching my head re: what else they need the cash for.
"increasing the NTA requirements for REs holding scheme property or assets and platform providers holding IDPS property or assets from $5 million to the greater of $10 million or 10% of average revenue"
Worth a look: http://www.herbertsmithfreehills.com/insights/legal-briefings/asic-consults-on-revised-financial-requirements-for-custodians
I'm inclined to revise my prediction. After a conversation with...
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