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Showing 131 - 140 of 298 results for shield

AFCA temporarily reinstates UGC to address complaints

RIDDHIMA TALWANI  |  FRIDAY, 26 SEP 2025
... reinstated United 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 ...

Macquarie to pay Shield victims in full

JAMIE WILLIAMSON  |  THURSDAY, 25 SEP 2025
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 ...

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
... 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
Equity Trustees has marked down the value of units held in the Shield Master Fund by as much as 75%, as victims petition the government for $5 million to start a recovery fund. The Save Our Super campaign, comprising victims of the Shield Master Fund ...

ASIC sets sights on 140 advisers

ELIZA BAVIN  |  THURSDAY, 18 SEP 2025
... regulator has identified 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 ...

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

KARREN VERGARA  |  FRIDAY, 5 SEP 2025
InterPrac 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 ...

Equity Trustees defies ASIC Shield Master Fund allegations

KARREN VERGARA  |  FRIDAY, 5 SEP 2025
... vows to defend itself against ASIC's lawsuit alleging it failed superannuation trustee duties over the collapse of the Shield Master Fund, as details emerge of how one of its analysts red flagged the product but was allegedly ignored. Releasing a ...

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

ELIZA BAVIN  |  WEDNESDAY, 3 SEP 2025
... sub-sector. "The major 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 ...

ASIC piles more charges on Merhi

KARREN VERGARA  |  MONDAY, 1 SEP 2025
... 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 the Federal Court to expand ...