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Showing 1 - 10 of 25 results for "UGC"

Adviser ban stretched to 2028 in ASIC deterrence win

RIDDHIMA TALWANI  |  WEDNESDAY, 13 MAY 2026
... sought review of that decision in the ART. In the ART ASIC provided evidence of similar breaches in relation to additional UGC client files and sought orders imposing a longer registration prohibition period. The registration prohibition took effect ...

AFCA membership extended for Shield, First Guardian-linked firms

KARREN VERGARA  |  WEDNESDAY, 4 MAR 2026
... liquidation linked to the collapse of the Shield Master Fund and First Guardian Master Fund. This means United Global Capital (UGC) and Next Generation Advice, which are both in liquidation, will remain AFCA members. UGC's scheduled membership end date ...

AFCA reveals outcome of final lead decision

MATTHEW WAI  |  MONDAY, 2 MAR 2026
The Australian Financial Complaints Authority (AFCA) has issued the lead decision against both United Global Capital (UGC) and Next Generation Advice, finding faults by both financial firms. The complainant of the lead decision, which AFCA explained ...

Former UGC adviser's appeal against ASIC ban accepted

MATTHEW WAI  |  TUESDAY, 27 JAN 2026
A former United Global Capital (UGC) financial adviser has had his banning order shrunk by half after a successful appeal to the Administrative Review Tribunal. Milutin Petrovic was banned from providing financial services or performing any function ...

Adviser of MWL, UGC banned for seven years

MATTHEW WAI  |  MONDAY, 22 DEC 2025
... a series of misconduct when he was an authorised representative of MWL Financial Services (MWL) and United Global Capital (UGC). Van Coppenhagen was authorised by UGC from April 2018 to July 2021 and by MWL from August 2022 to June 2023. Van Coppenhagen's ...

UGC auditor 'comprehensively failed', registration stripped

JAMIE WILLIAMSON  |  MONDAY, 27 OCT 2025
... employed by United Global Capital to audit both it and its managed funds, the Global Capital Property Fund (GCPF) and the UGC Global Alpha Fund. More than $92 million was invested in the funds, much of which is now unaccounted for. Following an application ...

ASIC bans adviser attached to UGC, MWL

ELIZA BAVIN  |  THURSDAY, 23 OCT 2025
... significant portion of their retirement savings into the Global Capital Property Fund. He was authorised by United Global Capital (UGC) at the time. ASIC's investigation into UGC, which is now in liquidation, had found it advised prospective clients ...

CSLR publishes paid claims details

JAMIE WILLIAMSON  |  FRIDAY, 26 SEP 2025
... Some $1.2 million was paid across 27 claims. There have so far been 19 claims paid out in relation to United Global Capital (UGC), totalling $2.3 million. There will be many more to come, with the Australian Financial Complaints Authority opting to reinstate ...

AFCA temporarily reinstates UGC to address complaints

RIDDHIMA TALWANI  |  FRIDAY, 26 SEP 2025
The Australian Financial Complaints Authority (AFCA) has 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 ...

Former United Global Capital adviser banned

JAMIE WILLIAMSON  |  MONDAY, 1 SEP 2025
Former United Global Capital (UGC) adviser Milutin Petrovic is banned for six years after ASIC found he failed key advice obligations when recommending clients invest their retirement savings into the Global Capital Property Fund Limited (GCPF). Petrovic ...
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