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Showing 121 - 130 of 149 results for "First Guardian"

AFCA temporarily reinstates UGC to address complaints

RIDDHIMA TALWANI | FRIDAY, 26 SEP 2025

... Global Capital's (UGC) membership until 31 March 2026, to ensure consumers can lodge complaints regarding Shield and First Guardian Master Fund. UGC was expelled from AFCA membership in May 2025 after entering liquidation and cancellation of its AFS ...

Shield collapse brings wholesale governance to the forefront

RIDDHIMA TALWANI | WEDNESDAY, 24 SEP 2025

The failures of Shield Master Fund and First Guardian Master Fund has pushed governance to the forefront - particularly among wholesale investors, according to Magellan Financial Group. Sophia Rahmani, chief executive and managing director of Magellan ...

ASIC chair calls it quits

KARREN VERGARA | FRIDAY, 19 SEP 2025

... of Last Resort (CSLR), ASIC's effectiveness has come under fire in the wake of the Australian Fiduciaries, First Guardian and Shield Master Fund scandals. The regulator estimates that First Guardian and Shield have lost more than $1 billion in investors' ...

Equity Trustees slashes value of Shield investments

JAMIE WILLIAMSON | THURSDAY, 18 SEP 2025

... million to start a recovery fund. The Save Our Super campaign, comprising victims of the Shield Master Fund and First Guardian collapses, published a petition urging the government to provide $5 million in seed capital to a trust fund, the beneficiaries ...

ASIC sets sights on 140 advisers

ELIZA BAVIN | THURSDAY, 18 SEP 2025

... around 140 financial advisers who were involved in super switching misconduct relating or similar to Shield and First Guardian. "We had a paper at the one of our commission meetings yesterday where there are 140 individuals that we are in the process ...

InterPrac wants super funds' reserves to remediate Shield, First Guardian victims

KARREN VERGARA | FRIDAY, 5 SEP 2025

... Financial Planning wants to rid itself of remediation obligations regarding the collapse of the Shield Master Fund and First Guardian Master Fund, saying that victims should be "fully compensated" via superannuation funds' reserves. InterPrac is currently ...

FAAA calls for other sectors to help pay $67m CSLR bill

ELIZA BAVIN | WEDNESDAY, 3 SEP 2025

... collapses that we have seen so far, including Dixon Advisory, United Global Capital, Brite Advisory, Shield and First Guardian, each point to a key product failure element. To attribute all these losses to financial advice and to provide no mechanism ...

ASIC piles more charges on Merhi

KARREN VERGARA | MONDAY, 1 SEP 2025

... 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 it sought leave from ...

Government scraps inquiry into advice firm failures, Dixon Advisory

JAMIE WILLIAMSON | FRIDAY, 29 AUG 2025

... end the Inquiry seems extraordinary, particularly in the light of recent news about the collapse of Shield and First Guardian, potentially involving over $1 billion in consumer losses from their super," FAAA chief executive Sarah Abood said. "This scandal ...

ASIC flags firm grip on private and public markets, super funds

KARREN VERGARA | WEDNESDAY, 27 AUG 2025

... "industrial scale" and culminated in several managed investment scheme failures such as the Shield Master Fund and First Guardian Master Fund. ASIC chair Joe Longo commented: "We direct our efforts and finite resources to areas where we see the greatest ...

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Federal Court lifts Merhi's travel ban

KARREN VERGARA

Former financial adviser Ferras Merhi is now free to travel as the Federal Court lifted travel restraint orders imposed one year ago.

Hostplus delivers double-digit FY26 returns

RIDDHIMA TALWANI

Hostplus Balanced (MySuper) option delivered members 10.8% for the financial year 2025-26, while the Indexed Balanced option and the High Growth option returned members 11.06% and 12.61% respectively.

ASIC levy estimates jump 19% as regulator ramps up funding

VINNY VUCAGO

ASIC has lifted its estimated industry funding levy by almost 20% for 2025-26, with regulated entities expected to shoulder $400.5 million in regulatory costs as the corporate watchdog expands its supervision and enforcement activities.

GQG bleeds over US$7bn in FUM in June

MATTHEW WAI

Despite recording positive investment performance, GQG Partners observed a significant outflow, with net outflows of $4.62 billion recorded in the month of June, as FUM slipped to $225 billion at June end, compared to $235.5 billion in the month prior.

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