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Showing 11 - 20 of 171 results for "First Guardian"

APRA targets platform trustees, welcomes stronger powers

KARREN VERGARA  |  THURSDAY, 20 AUG 2026
... 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. While the ...

Mulino unveils sweeping reforms to cold calling, MISs

KARREN VERGARA  |  WEDNESDAY, 19 AUG 2026
... 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 the three major ...

Global investment manager bids for Equity Trustees

MATTHEW WAI  |  TUESDAY, 18 AUG 2026
... in June, following two ASIC lawsuits alleging failures in care, skill and diligence in the recommendation of the First Guardian Master Fund. Equity Trustees has since announced that it is defending against the claims.

New investment governance provider for AFSL launches

MATTHEW WAI  |  TUESDAY, 18 AUG 2026
... 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 licensees should ...

ASIC ramps up enforcement action

VINNY VUCAGO  |  MONDAY, 10 AUG 2026
... 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 responsible individuals. "Every ...

Sequoia caves into InterPrac sale undertaking, ASIC withdraws proceedings

KARREN VERGARA  |  WEDNESDAY, 5 AUG 2026
... 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 from InterPrac ...

Chiodo in ASIC's crosshairs again

KARREN VERGARA  |  TUESDAY, 4 AUG 2026
... ASIC recently launched new action on Auditeo Australia and two auditors, alleging serious audit failures linked to First Guardian. ASIC alleges that unqualified audit reports on First Guardian and its compliance plan for the 2020 to 2024 financial years ...

Advice complaints see biggest increase in FY26: AFCA

MATTHEW WAI  |  TUESDAY, 4 AUG 2026
... 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 remained the top issue with a 65% ...

ASIC sues First Guardian-linked auditors

KARREN VERGARA  |  FRIDAY, 31 JUL 2026
ASIC has commenced proceedings against Auditeo Australia and two auditors for their involvement in the First Guardian Master Fund failure. ASIC alleges that unqualified audit reports on First Guardian and its compliance plan for the 2020 to 2024 financial ...

FSC calls for tougher oversight of advice licensees

VINNY VUCAGO  |  THURSDAY, 30 JUL 2026
... 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 AFSL framework places ...