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Regulatory

ASIC bans another MWL adviser

ASIC has banned another MWL financial adviser David Lofthouse for three years for advising clients to invest at least 75% of their superannuation savings into the High Growth or Growth class of the Shield Master Fund.

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Read more: ASICMWLShield Master FundDavid Lofthouse forHigh GrowthAdministrative Review Tribunalalleged ShieldArthur J. GallagherAustralian Financial ServicesImperial Capital Group