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Showing 141 - 150 of 191 results for "First Guardian"

Conaghan holds ASIC accountable for Shield, First Guardian mess

KARREN VERGARA  |  THURSDAY, 20 NOV 2025
The shadow minister for financial services Pat Conaghan has thrust ASIC front and centre of the First Guardian and Shield Master Fund collapses, saying it should take accountability for its delayed action and it is high time for its reformation. Conaghan ...

SQM vows to 'respectfully' defend ASIC case

MATTHEW WAI  |  TUESDAY, 18 NOV 2025
... also commenced legal proceedings against MWL Financial Services and Interprac Financial Planning over Shield and First Guardian advice failures.

SMC makes recommendations to safeguard super

ELIZA BAVIN  |  MONDAY, 17 NOV 2025
... the corporate regulator continues to launch legal action against those involved in the collapses of Shield and First Guardian. ASIC deputy chair Sarah Court said the misconduct was on an "industrial scale." SMC said the First Guardian and Shield collapses ...

Estimated CSLR levy comes in at $127m for FY27

JAMIE WILLIAMSON  |  MONDAY, 17 NOV 2025
... to be payable by the financial advice industry in FY27 will be $126.9 million - but that doesn't account for First Guardian and Shield. In total, the initial estimate for FY27 is $137.5 million. With $126.9 million expected to be paid by financial ...

SQM Research faces court over 'favourable' rating of Shield

MATTHEW WAI  |  THURSDAY, 13 NOV 2025
... currently assessing the claim and declined to make further comment. SQM Research also provided ratings for the First Guardian Master Fund. Earlier this year, SQM Research managing director Louis Christopher explained the assigned ratings, stating that ...

Interprac sued over Shield, First Guardian failures

JAMIE WILLIAMSON  |  THURSDAY, 13 NOV 2025
... and Rhys Reilly Pty Ltd advised about 6843 clients to invest some $677 million into the Shield Master Fund and First Guardian Master Fund. Of these, Venture Egg and its principal Ferras Merhi advised 2930 clients to invest a total of $243 million in ...

Super performance test, DBFO reforms coming: Government

ELIZA BAVIN  |  WEDNESDAY, 12 NOV 2025
... anything, there's a bit more nuance to it now that we need to think through how we're going to respond to First Guardian and Shield and that broader set of risks around advice." But he said this will not cause additional delays, saying they're ...

Majority of SMSF establishments based on bad advice: ASIC

KARREN VERGARA  |  THURSDAY, 6 NOV 2025
... activities particularly in the pre-vetting process. Kirkland pointed to the collapses of the Shield Master Fund and First Guardian Master Fund as the "worst-case scenario" for switching superannuation funds based on bad advice. "SMSF trustees should ...

ASIC considers 'cooling off period' for super switching

ELIZA BAVIN  |  THURSDAY, 6 NOV 2025
... chair Joe Longo has said introducing "frictions" into the super switching process could help avoid a repeat of the First Guardian and Shield "catastrophe". "No one wants to preside over a problem like this if there are some potential solutions. So, I ...

Equity Trustees to ask Mulino for help amid First Guardian, Shield fallout

JAMIE WILLIAMSON  |  THURSDAY, 30 OCT 2025
... Netwealth's lead and make an application to the government under Part 23 of the SIS Act for help in making First Guardian and Shield investors whole. Speaking at the Equity Trustees annual general meeting today, managing director Mick O'Brien ...