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Showing 11 - 20 of 191 results for "First Guardian"

Sequoia plots potential restructure

MATTHEW WAI  |  FRIDAY, 18 SEP 2026
... complaints sitting with the Australian Financial Complaints Authority (AFCA) regarding the collapse of the Shield and First Guardian Master Funds. The loss from the managed investment schemes is totalling over $1 billion from thousands of victims. The ...

Stay up to date with regulatory compliance at the FAAA Congress

MATTHEW WAI  |  THURSDAY, 17 SEP 2026
... managed accounts, but she'll also have a chance to talk about what they have done this year across Shield and First Guardian." Anderson will also moderate a conversation between CSLR chief executive David Berry and AFCA lead ombudsman Shail Singh ...

Regulatory reform omnibus bill passage trims CSLR levy disallowance period, payouts

KARREN VERGARA  |  TUESDAY, 15 SEP 2026
... while the estimate also includes the first tranche of some 474 claims stemming from the collapses of the Shield and First Guardian master funds. These represent over $30.1 million in gross claim payments according to data provide by the CSLR. Melinda ...

Tribunal affirms InterPrac, FSGA adviser bans

MATTHEW WAI  |  FRIDAY, 11 SEP 2026
... InterPrac Financial Planning and Financial Services Group Australia (FSGA) who were involved in the Shield and First Guardian master funds for five years. Andrew Hanley and Shane Monte Silva received their verdicts after applying to the tribunal to review ...

'Easy peasy, done': Senate rips Equity Trustees' checklist governance

RIDDHIMA TALWANI  |  THURSDAY, 10 SEP 2026
... Equity Trustees' governance at a hearing today, with one senator calling its approach to onboarding Shield and First Guardian a "checklist model", a characterisation the trustee rejected. The committee revealed Equity Trustees' internal response ...

Crole banned for 10 years after abrupt exit from Sequoia

MATTHEW WAI  |  TUESDAY, 8 SEP 2026
... representatives, such as Venture Egg and Rhys Reilly advised "thousands" of clients to invest their super into the First Guardian and Shield master funds. Both funds have now collapsed, with over $1.2 billion, and counting, of retirement funds that was ...

Diversa board backs chief executive pay rise, bonus amid First Guardian fallout

KARREN VERGARA  |  TUESDAY, 8 SEP 2026
... Trustees' board paid chief executive Andrew Peterson a bonus of $770,000 and increased his salary at the height of the First Guardian collapse, an inquiry heard, doubling down on its confidence in his leadership and suitability to lead the business. ...

Inquiry rips into Diversa: 'All profit, no responsibility'

KARREN VERGARA  |  MONDAY, 7 SEP 2026
... parliamentary inquiry that criticised its governance and structural problems, particularly its role in the failed First Guardian Master Fund, in which members invested about $240 million. At the recent Parliamentary Joint Committee on Corporations and ...

Equity Trustees super exit sparks Hejaz Islamic Super and Pension closure

KARREN VERGARA  |  MONDAY, 31 AUG 2026
... its subsidiary Equity Trustees Superannuation Limited (ETSL), after facing continued scrutiny over the Shield and First Guardian collapses. ASIC is going after Equity Trustees on a number of fronts, which include alleged failures of care, skill and diligence ...

Sequoia revokes dividends, chief financial officer exits

RIDDHIMA TALWANI  |  MONDAY, 31 AUG 2026
... plummeting 15% from $124.1 million in the previous year. Sequoia said the business was directly affected by the First Guardian and Shield Master Fund failures, attributing the decline largely to the reduction in adviser numbers from 294 in July 2025 ...