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Showing 91 - 100 of 292 results for "Shield"

Mulino taps super sector to help pay CSLR special levy

ELIZA BAVIN  |  WEDNESDAY, 10 DEC 2025
... consumer protections and improve stability and confidence in the superannuation and financial services sectors, saying the Shield and First Guardian collapses have highlighted the need for reform. "We are considering targeted reforms to deal with the ...

ASIC sues Diversa for First Guardian failures

KARREN VERGARA  |  TUESDAY, 9 DEC 2025
... the fund associated with 2055 superannuation members. ASIC is currently suing SQM for the "favourable" rating it gave the Shield Master Fund. Court documents show that SQM also rated First Guardian as "acceptable" and awarded it 3.5 stars, which it described ...

1659 First Guardian, Shield complaints reach AFCA

KARREN VERGARA  |  MONDAY, 8 DEC 2025
The number of Shield Master Fund and First Guardian Master Fund-related complaints lodged with the Australian Financial Complaints Authority (AFCA) has grown to 1659. AFCA said the latest figure represents the total as at December 3. AFCA did not provide ...

Chalmers accused of sitting on advice for MIS reforms

ELIZA BAVIN  |  THURSDAY, 4 DEC 2025
... changes], the report still sits with the government." The discussion arose as Senators were asking questions about the Shield and First Guardian collapses. Some members of the committee inferred Chalmers has been sitting on advice for reforms for some ...

Shield proposes to liquidate equities to pay investors

KARREN VERGARA  |  WEDNESDAY, 3 DEC 2025
The Shield Master Fund (SMF) is expected to make a distribution to victims by selling a large portion of its listed equities portfolio, according to liquidators Alvarez & Marsal. Keystone Asset Management, which is the responsible entity for the Shield ...

Sequoia shares dive nearly 50%

KARREN VERGARA  |  TUESDAY, 25 NOV 2025
... pause and the impact it would have on its share price. The AFR published an article titled ASIC sues SQM, Sequoia in fresh Shield, First Guardian blitz at 9:51 am AEDT on November 13. Sequoia's share price opened at 28.5 cents that morning. It dropped ...

APRA-regulated funds should not pay CSLR special levy: SMC

MATTHEW WAI  |  MONDAY, 24 NOV 2025
... said, as they must keep money aside for emergencies and follow strict rules to protect their members. The answer to the Shield and First Guardian collapses is not to send the bill for those risks to millions of everyday Australians in the mainstream ...

Sequoia boasts of 'good governance' despite ASIC action

JAMIE WILLIAMSON  |  THURSDAY, 20 NOV 2025
... Addressing its annual general meeting this morning, Sequoia chair Mike Ryan said the litigation brought by ASIC last week over Shield and First Guardian was not unexpected and the allegations were not reflective of "any new development". He reinforced ...

Prevention of Shield, First Guardian-like events the focus from here on: Mulino

MATTHEW WAI  |  THURSDAY, 20 NOV 2025
Establishing a framework to prevent disasters like the Shield Master Fund and First Guardian Master Fund from happening again will be the focus moving forward, minister for financial services Daniel Mulino told the Financial Advice Association Australia ...

Conaghan holds ASIC accountable for Shield, First Guardian mess

KARREN VERGARA  |  THURSDAY, 20 NOV 2025
The shadow minister for financial services Pat Conaghan has thrust ASIC front and centre of the First Guardian and Shield Master Fund collapses, saying it should take accountability for its delayed action and it is high time for its reformation. Conaghan ...