Court action shows APRA's fine line
It's rare that any good news is sent to the ASX so late on the last full working day before Christmas. But for investors in beleaguered wealth business IOOF, December 21 actually brought something of a reprieve.
Late on that Friday before Christmas, the Australian Prudential Regulation Authority gave IOOF formal notice of the conditions it proposes to place on the firm's financial services licence.
This was widely expected, given APRA foreshadowed its intention to impose conditions w...