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Showing 11 - 20 of 1485 results for "Master"

ASIC to receive $10m in FY27 to improve MIS supervision

MATTHEW WAI  |  TUESDAY, 12 MAY 2026
... governance and oversight of registered MISs used by retail investors following the collapses of First Guardian and Shield Master Funds, where over $1 billion of retirement savings were lost. The Super Members Council (SMC) welcomed the decision and highlighted ...

ASIC bans property wealth coach operating without licence

RIDDHIMA TALWANI  |  MONDAY, 11 MAY 2026
... unconscionable behaviour. Treasury has also opened a review into the $2 trillion MIS sector off the back of the Shield Master Fund and First Guardian Master Fund collapses. A new MIS regulatory framework will have stricter compliance plan requirements ...

Advice industry can't afford CSLR to be an 'unsustainable mess': FAAA

MATTHEW WAI  |  FRIDAY, 8 MAY 2026
... sure "this isn't going to become an unsustainable mess." He noted that with the inclusion of First Guardian and Shield Master Funds complaints, amounting to some $125 million, the CSLR will reach the annual cap of $250 million, along with the calculated ...

Sequoia abandons InterPrac sale

KARREN VERGARA  |  FRIDAY, 1 MAY 2026
... sitting with the Australian Financial Complaints Authority (AFCA) regarding the collapse of the Shield and First Guardian Master Funds. In an update to the ASX, Sequoia said developments subsequent to signing the share sale agreement "resulted in circumstances ...

'Beware the predictions of political experts': UniSuper

ELIZA BAVIN  |  TUESDAY, 28 APR 2026
... involved are irrational and unpredictable. There's a school of thought that Trump's administration acts with a 'grand master plan' in mind, that Trump himself plays 'four-dimensional chess', he's 'ahead of the game'. What nonsense," Pearce ...

ASIC bans another former MWL adviser

ELIZA BAVIN  |  THURSDAY, 23 APR 2026
... included recommending they invest most of their superannuation into the High Growth class and the Growth class of the Shield Master Fund (Shield) which were high risk investments, or they invest in the Balanced and Conservative classes which were medium ...

ASIC bans former adviser Rhys Reilly for 10 years

KARREN VERGARA  |  MONDAY, 13 APR 2026
... banned from working in financial services for 10 years for "serious misconduct" in which he flogged the First Guardian Master Fund in return for conflicted remuneration. ASIC's investigation into Reilly, which remains ongoing, found he accepted $100,000 ...

Sale of Interprac raises eyebrows at ASIC

JAMIE WILLIAMSON  |  WEDNESDAY, 8 APR 2026
... sitting with the Australian Financial Complaints Authority (AFCA) regarding the collapse of the Shield and First Guardian Master Funds. There are currently more than 900 open complaints with AFCA in relation to advice provided by Interprac representatives ...

ASIC bans another MWL adviser

RIDDHIMA TALWANI  |  WEDNESDAY, 8 APR 2026
... advising clients to invest at least 75% of their superannuation savings into the High Growth or Growth class of the Shield Master Fund. ASIC said Lofthouse gave six clients inappropriate advice which was not in their best interests. The ban took effect ...

Treasury proposes lead generator, super switching reforms

KARREN VERGARA  |  WEDNESDAY, 8 APR 2026
... Feedback from stakeholders for all three consultations is due on May 22. The collapses of the Shield and First Guardian Master Funds have exposed industry-wide issues and misconduct that until recently have been left unchecked. These have ultimately ...