In case you didn’t get the message before: APRA has issued a wordy media release “revisiting” its role in the downfall of HIH.

While the two-page statement issued by Public Affairs Manager Gloria Petersen contains no new information, it emphasises that APRA acted to the limit of the laws governing its activities, and was prevented by those same laws from doing more.

“It has also been suggested that APRA gave priority to protecting the interests of investors and shareholders in HIH, Ms Peterson said. “This is certainly not so. APRA has absolutely no obligation – legal or otherwise – to investors and shareholders.”