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Showing 91 - 100 of 298 results for shield

Netwealth to spend $101m compensating First Guardian victims

JAMIE WILLIAMSON  |  THURSDAY, 18 DEC 2025
... platforms. "ASIC now has 12 cases underway against 20 defendants and is continuing to investigate misconduct relating to Shield and First Guardian to hold those involved to account." APRA has also accepted a court enforceable undertaking from NSS, saying ...

Equity Trustees hit with additional licence conditions

ELIZA BAVIN  |  THURSDAY, 18 DEC 2025
... options made available to members. This comes after APRA sent a letter to all platform trustees in October in the wake of the Shield and First Guardian fund collapses, calling for greater oversight and protection of member assets. ETSL acts as trustee ...

Sequoia expects earnings hit from Shield, First Guardian

KARREN VERGARA  |  TUESDAY, 16 DEC 2025
... division flagged it is currently making healthy earnings but expects to take a hit from the First Guardian Master Fund and Shield Master Fund debacle. The unit, which is embroiled in the loss of $1 billion superannuation member money thanks to the collapse ...

Mulino wants PII to step up to make CSLR sustainable

KARREN VERGARA  |  MONDAY, 15 DEC 2025
... only get bigger from here. The 2027 levy estimate is already $137 million - and that's without the First Guardian and Shield collapse, which could see it double." As it stands, the CSLR does not have the ability to claim against a company's PII ...

ASIC suspends MW Planning AFSL over missing responsible manager

MATTHEW WAI  |  FRIDAY, 12 DEC 2025
... for five and 10 years, respectively, after they allegedly helped funnel more than $150 million in investments into the Shield Master Fund. MWL recommended Shield to more than 750 clients who then collectively invested about $155 million, ASIC said. Further ...

Mulino looks to reform CSLR

ELIZA BAVIN  |  THURSDAY, 11 DEC 2025
... scheme," SMC said. "The FY26 special levy is $47.3 million, but this does not yet include the fallout from the high-profile Shield and First Guardian collapses, which will lead to further cost blow outs in the scheme." SMC said profit-to-member super ...

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 ...