Financial Standard Comments - Shield, First Guardian fallout calls for tougher scrutiny on research houses, licensee governance The fall of the Shield Master Fund and First Guardian Master Fund calls for tougher scrutiny of research houses and licensees to strengthen their governance framework, according to experts, who warn that an entrenched system requires an urgent shakeup. https://www.financialstandard.com.au/feed/latest?story=179810351 Fri, 24 Oct 2025 15:53:07 +1100 Fri, 24 Oct 2025 15:53:07 +1100 en-AU Copyright 2026 Financial Standard 5 Comment by roland Knight (Infocus - Caboolture)

"to provide advisers and investors with a clear understanding of the product, so they can make an informed and educated investment decision" - to do that would mean the adviser and the investor must have the knowledge & education to know how to analyse that research. Which goes against what was said "capability and expertise that are required to run money can't be insourced to the same adviser". so what are you really saying?

plus I or the client would not be able to absorb the cost of paying for research. so that's a No.

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]]> roland Knight (Infocus - Caboolture) Fri, 24 Oct 2025 15:53:07 +1100 Comment by Paul Meleng (Self)

So much for the protection of higher education that locked old blokes like me out. You can't get a degree in decency. In fact some things just become better 'sheeps clothing".

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]]> Paul Meleng (Self) Mon, 27 Oct 2025 12:24:22 +1100