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Showing 1 - 10 of 308 results for "Shield"

APRA targets platform trustees, welcomes stronger powers

KARREN VERGARA  |  THURSDAY, 20 AUG 2026
... the agenda. Ultimately, APRA said it wants better oversight and accountability from platform trustees in the wake of the Shield and First Guardian Master Fund collapses, in which one or both sat on several platforms such as Equity Trustees and Netwealth. ...

Mulino unveils sweeping reforms to cold calling, MISs

KARREN VERGARA  |  WEDNESDAY, 19 AUG 2026
... reforms around cold calling, predatory superannuation switching and managed investment schemes (MISs) in the wake of the Shield and First Guardian Master Fund collapses, which lost an estimated $1 billion in retirement savings and will subsequently bestow ...

New investment governance provider for AFSL launches

MATTHEW WAI  |  TUESDAY, 18 AUG 2026
... a result of recent managed investment schemes failure. Speaking to Financial Standard, Bhana said the collapses of the Shield and First Guardian Master Funds reflected the immediate need for an institutionalised level of governance in the industry and ...

ASIC ramps up enforcement action

VINNY VUCAGO  |  MONDAY, 10 AUG 2026
... company failures that resulted in substantial debts and losses for creditors. ASIC also banned 15 advisers linked to the Shield Master Fund or First Guardian Master Fund during the financial year and took further action against associated licensees and ...

Sequoia caves into InterPrac sale undertaking, ASIC withdraws proceedings

KARREN VERGARA  |  WEDNESDAY, 5 AUG 2026
... the regulator's intervention would have seen the Sequoia group of entities divest itself of liabilities stemming from the Shield and First Guardian master fund collapses. In the ASX announcement, Sequoia said the Federal Court "approved an undertaking ...

Chiodo in ASIC's crosshairs again

KARREN VERGARA  |  TUESDAY, 4 AUG 2026
... Management, which is in liquidation. He was also the director and co-founder of CF Capital, the investment manager of the Shield master Fund. Keystone and Chiodo have both been named as defendants in the lawsuit. Kortesis was a director of Keystone between ...

Advice complaints see biggest increase in FY26: AFCA

MATTHEW WAI  |  TUESDAY, 4 AUG 2026
... consecutive year complaints have exceeded 100,000. Investments and advice complaints increased by 56%, primarily driven by the Shield Master Fund and First Guardian collapses, while complaints alleging the failure to act in the client's best interest ...

FSC calls for tougher oversight of advice licensees

VINNY VUCAGO  |  THURSDAY, 30 JUL 2026
... framework towards ensuring it is operating as intended with effective supervision," Briggs said. He said the collapses of Shield and First Guardian highlighted weaknesses that may have been identified earlier through more proactive supervision. "The ...

Crole exits Sequoia effective immediately

KARREN VERGARA  |  WEDNESDAY, 22 JUL 2026
Garry Crole is exiting Sequoia Financial Group as chief executive effective immediately as the fallout from the Shield and First Guardian master funds and legal action against subsidiary InterPrac Financial Planning rolls on. Crole said his decision ...

FEATURE | Platforms | The investment supermarket

RIDDHIMA TALWANI  |  TUESDAY, 21 JUL 2026
... investment options it puts in front of members. It's a safeguard that, ASIC says, didn't hold up in the case of the Shield and First Guardian failures. Around 11,000 Australians lost more than $1 billion dollars of their retirement savings in ...
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