3 questions lodged at 2026 Australian Finance Group (AFG) hybrid AGM
October 16, 2026
Below is the text of the 3 written questions submitted at the 1 hour Australian Finance Group (AFG) 9am Perth time hybrid AGM held via the MUFG platform on October 16, 2026. See notice of meeting detailing just 2 resolutions. Appointed Cam as proxy who attended in person and was the only shareholder in the room asking questions. Market cap was $341m on AGM day. The proxies were disclosed early in the formal addresses. There were no protest votes. See 4 questions asked at 2025 AGM and 5 questions asked at 2024 AGM.
Exit reflections from the retiring co-founder
Proxy Cam did well on the floor and particularly liked the nice round of applause for retiring AFG co-founder Brett McKeon after Cam asked him for some exit reflections. I didn't tell him to but it went down a treat. Well done one and all. Perth-based AFG were absolute pioneers in terms of taking on the Big Four banks with independent finance brokers. Based on what Brett said, it sounds like a real school of hard knocks in the early day. Watch video of exchange via Twitter, plus these final comments from chair Greg Medcraft thanking Cam for an excellent question.
Q1. A question on regulation. Could chair Greg Medcraft comment on how well be believes ASIC is currently regulating our sector. Has much has changed since when he was the chairman of ASIC? Is ASIC even our most important regulator, or is that APRA? And do we have any engagement with state-based consumer affairs departments?
Answer: Former ASIC chair Greg Medcraft reckons ASIC does a good job regulating the finance broking industry. He name checked Joe Longo and Sarah Court as couple of capable ASIC successors and also commented on ASIC's recent report into the industry. Watch video of exchange via Twitter.
Q2. Ernst & Young been our external auditor since 2007. How many competitive tenders have we run over that 20 year period and when are we next planning to run a competitive tender for the external audit service? Does the chair expect EY will be our external auditor in 2030?
Answer: Got this one badly wrong as EY have only been auditor for 7 years. They were very polite in the circumstances. Watch video of exchange via Twitter.
Q3. Australia is currently in the midst of an unprecedented deluge of takeovers that has contributed to listed entities on the ASX dropping by 11% since January 2023 to 2,044 on September 30, 2026. There were a record 27 major takeovers above $100m completed in 2024-25 and this rose to 30 in 2025-26. Why do the chair and CEO believe this is happening? There is currently a flood of private equity takeover bids. Have we war-gamed how we would respond to a bid and do we have advisers in place if that happens?
Answer: Former ASIC chair Greg Medcraft joked that those on the call should "hold, and buy more". He then gave a brief but considered response canvassing the differences between public and private markets. Feel sorry for AFG as it mints cash but has seen its shares tumble, like many other unloved small caps. It sounds like a screaming buy. Watch video of exchange via Twitter.
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