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Showing 11 - 20 of 93 results for "First Guardian Master Fund"

Crole exits Sequoia effective immediately

KARREN VERGARA  |  WEDNESDAY, 22 JUL 2026
... 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 (AFCA), believing it has not been treated ...

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
... trustees. She added trustees have not learnt lessons from the collapses of the Shield Master Fund and First Guardian Master Fund, which cost more than 11,000 Australians around $1 billion in retirement savings. "Many of the clear gaps in oversight are ...

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 ...

APRA slaps additional licence conditions on HTFS Nominees

KARREN VERGARA  |  FRIDAY, 29 MAY 2026
... alleging failures in care, skill and diligence concerning the decision to allow members to invest in the First Guardian Master Fund. On the latest action, APRA chair John Lonsdale said: "Alongside enforcement action, APRA is closely supervising other ...

AFCA puts InterPrac determinations on ice

KARREN VERGARA  |  FRIDAY, 29 MAY 2026
... issuance of determinations. InterPrac is currently taking action against a former client and victim of the First Guardian Master Fund collapse for an AFCA determination it does not agree with. This is on top of the advice group's lawsuit against ...