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| | | ... while here, he advised clients to invest most of their superannuation into the High Growth class or the Growth class of the Shield Master Fund which were high risk investments or the Balanced class which was a medium-high risk investment. Shield also ... |
| | | | ... single fund. The spike in complaints includes those mostly brought against solvent financial firms that were impacted by the Shield Master Fund and the First Guardian Fund collapses," AFCA said. 'Failure to act in the client's best interest' complaints ... |
| | | | ... ASIC has banned Wade Spooner of Melbourne for eight years for advising his clients to invest their superannuation into the Shield Master Fund while he was an authorised representative of MWL Financial Services. Spooner, also a member of MWL's investment ... |
| | | | The retirement savings of thousands of Australians have been lost in the First Guardian and Shield failures and, while investigations are ongoing, the blame for their collapse and the misconduct that led to it is being passed around like a football ... |
| | | | ... a claim for compensation for losses incurred by members of the AMG Super and Super Simplifier platforms who invested in Shield Master Fund. This is in addition to the initial claim for civil penalties and legal costs. ASIC confirmed the updated Statement ... |
| | | | ... hearing that the corporate regulator is working closely with Treasury and the government on law reform in the wake of the Shield Master Fund and First Guardian Master Fund collapses. Longo said high risk super switching is a "great concern" to ASIC and ... |
| | | | ... with the entities they audit." BDO was the auditor of defunct Keystone Asset Management, the responsible entity of the Shield Master Fund. When the Federal Court appointed new receivers and administrators in September 2024, BDO found that Keystone failed ... |
| | | | The regulator has written to platform trustees in the wake of the First Guardian and Shield Master Fund collapses, alerting them to the need to strengthen their investment governance processes. In its letter, it shared initial findings from the thematic ... |
| | | | ... available by closing a number of funds." It follows Macquarie agreeing to reimburse the retirement savings of about 3000 Shield Master Fund victims, whose superannuation was invested in the fund via Macquarie Wrap. The Macquarie Superannuation Plan has ... |
| | | | ... come, with the Australian Financial Complaints Authority opting to reinstate UGC's membership to ensure victims of the Shield and First Guardian collapses can access recourse. Anne Street Partners, Nextgen Financial Group, Dover Financial Advisers, Spectrum ... |
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