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Showing 1 - 10 of 202 results for "Master Fund"

Crole exits Sequoia effective immediately

KARREN VERGARA  |  WEDNESDAY, 22 JUL 2026
... representatives Venture Egg and Rhys Reilly Pty Ltd advised about 6843 clients to invest some $677 million into the Shield Master Fund and First Guardian Master Fund. On the offensive, InterPrac is suing the Australian Financial Complaints Authority ...

Another MWL adviser banned over Shield collapse

RIDDHIMA TALWANI  |  THURSDAY, 16 JUL 2026
... recommended her clients invest most of their superannuation into the High Growth class and the Growth class of the Shield Master Fund (Shield) which was a high-risk investment, or the Balanced class which was a medium risk investment. ASIC said her statements ...

Federal Court lifts Merhi's travel ban

KARREN VERGARA  |  MONDAY, 13 JUL 2026
... Services Group Australia. Between 2020 and 2024, clients were advised to invest some $296 million into the First Guardian Master Fund and $230 million into the Shield Master Fund. ASIC calculates Merhi's businesses allegedly received nearly $18 million ...

First Guardian victims recoup 8% of $38m loan

KARREN VERGARA  |  FRIDAY, 3 JUL 2026
Victims of the First Guardian Master Fund will only recoup $2.9 million out of a $38.3 million loan made by responsible entity Falcon Capital, according to liquidators who said the amount represents a realistic commercial value compared to alternative ...

Financial services CSLR Levy hits $198m

MATTHEW WAI  |  THURSDAY, 2 JUL 2026
The Compensation Scheme of Last Resort (CSLR) has increased the estimated FY27 levy to be paid by the financial services sector to $198.1 million, a $60.7 million increase from its initial estimate announced in November 2025. The latest update expects ...

ASIC calls out platform trustees: 'Clear breach of trust'

RIDDHIMA TALWANI  |  MONDAY, 29 JUN 2026
... and unusual fund flows. APRA wrote to trustees in in October last year in the wake of the First Guardian and Shield Master Fund collapses, alerting them to the need to strengthen their investment governance processes. Since then, APRA has imposed five ...

ASIC sues three Keystone Asset Management directors

KARREN VERGARA  |  FRIDAY, 26 JUN 2026
... Mark Yorston for allegedly failing their duties to safeguard superannuation members from the collapse of the Shield Master Fund. Some 5800 investors with $530 million in retirement savings were invested in Shield. Keystone, which is now in liquidation ...

Diversa drags Praemium into First Guardian lawsuit

KARREN VERGARA  |  TUESDAY, 23 JUN 2026
... over the next four weeks. ASIC is currently suing Diversa Trustees for its role in the collapse of the First Guardian Master Fund, in which $300 million of member money was invested. ASIC alleges Diversa failed to conduct adequate due diligence before ...

Equity Trustees opts out of super trustee business

RIDDHIMA TALWANI  |  MONDAY, 22 JUN 2026
... alleging failures in care, skill and diligence concerning the decision to allow members to invest in the First Guardian Master Fund. The regulator first launched a proceeding against Eqity Trustees in August 2025, alleging failures in due diligence concerning ...

More aggressive than ever: ASIC defends First Guardian investigation

RIDDHIMA TALWANI  |  FRIDAY, 5 JUN 2026
... over the time it has taken to act against Falcon Capital, the responsible entity for the collapsed First Guardian Master Fund. ASIC chair Sarah Court, attending the first parliamentary committee after taking over the role, said the investigation is continuing ...
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