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| | | Macquarie is heading to court with ASIC over its role in the Shield Master Fund collapse but has committed to reimbursing investors' retirement savings by September 30. ASIC commenced proceedings in the Federal Court against Macquarie Investment ... |
| | | | ASIC chair Joe Longo has tendered his resignation, to finish up in 2026. In June, Longo told the Secretary to the Treasury he would not be seeking an extension of his term, which finishes up on 31 May 2026. A former lawyer, Longo replaced James Shipton ... |
| | | | ... to be offered, Save Our Super said. "The Commonwealth government must accept responsibility for the regulatory failures of ASIC and APRA. Accordingly, it should provide seed funding to ensure victims are not forced to pay twice for systemic failures," ... |
| | | | ASIC deputy commissioner Sarah Court told a parliamentary committee this morning that the regulator has identified around 140 financial advisers who were involved in super switching misconduct relating or similar to Shield and First Guardian. "We had ... |
| | | | ... Financial Services and its principal Ferras Merhi, and Reilly Financial were authorised representatives of InterPrac. Last week, ASIC added allegations against Merhi, claiming he engaged in "unconscionable conduct". In releasing its 2025 financial report ... |
| | | | ... (ETS) has carefully considered ASIC's Statement of Claim and is "determined that it intends to defend the allegations." ASIC alleges that ETS failed to exercise the same degree of care, skill and diligence as a prudent superannuation trustee would ... |
| | | | ... Authority be required to contribute. It added that the CSLR needs to be treated as a genuine scheme of last resort, meaning ASIC and other regulators must act faster and more effectively against entities and other parties to minimise losses where they're ... |
| | | | ASIC has heaped more allegations against former financial adviser Ferras Merhi, claiming he engaged in "unconscionable conduct" related to the First Guardian Master Fund and Shield Master Fund that has put more than $520 million on the line. ASIC said ... |
| | | | ... also supposed to look at the actions of those involved contributed to the collapse, the role of the regulatory regime and ASIC, and the enforcement options available to ASIC. The committee was supposed to deliver its report by the last sitting day in ... |
| | | | ... the Shield Master Fund. MWL recommended Shield to more than 750 clients who then collectively invested about $155 million, ASIC said. This was done via a "low cost advice project" the firm ran between September 2021 and February 2024, receiving referrals ... |
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