Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 11 - 20 of 25 results for "UGC"

Adviser banned for UGC, Shield involvement

MATTHEW WAI  |  TUESDAY, 19 AUG 2025
Gold Coast-based financial adviser Andrew Rankin has been banned for four years for failing to act in clients' best interests by pushing them to invest in the Global Capital Property Fund (GCPF) and Pivotal Diversified Fund. The banning took effect ...

Decade-long ban for UGC director upheld

MATTHEW WAI  |  WEDNESDAY, 13 AUG 2025
The Administrative Review Tribunal has upheld ASIC's decision to ban United Global Capital (UGC) director Joel James Hewish for 10 years, after he lodged a review of the ban handed down in June 2024. The Tribunal conducted two hearings since the application ...

ASIC calls out trustees 'passing the buck' on super switching

KARREN VERGARA  |  THURSDAY, 31 JUL 2025
... has affected 11,000 investors. This does not factor in victims of Australian Fiduciaries, ISG, and United Global Capital (UGC), which have collapsed in recent years. ASIC now wants super trustees to undertake a review of their processes to ensure new ...

ASIC targets advisers, platforms, research houses in super switching scams

KARREN VERGARA  |  THURSDAY, 3 JUL 2025
... generators is something that we are looking at," she said. The downfall of Australian Fiduciaries, ISG, and United Global Capital (UGC), as well as the Shield Master Fund and First Guardian Master Fund in recent years has come to a head for ASIC, which ...

UGC's AFCA membership to cease

KARREN VERGARA  |  MONDAY, 7 APR 2025
The Australian Financial Complaints Authority (AFCA) will expel United Global Capital's (UGC) membership effective May 31. UGC, which is now in liquidation, began providing financial services, including financial advice, in 2017 to retail and sophisticated ...

CSLR levy pain could hit $123m: FAAA

KARREN VERGARA  |  THURSDAY, 20 FEB 2025
... feared for some time. Keep in mind that this is the cost before AFCA fees," he said. The failure of United Global Capital (UGC) significantly drove the 2026 levy estimates. This accounts for $44.6 million in claims and $3.6 million in AFCA fees - meaning ...

CSLR review will scrutinise effect on businesses

KARREN VERGARA  |  MONDAY, 3 FEB 2025
... million. This is largely due to the failures of Dixon Advisory & Superannuation Services (DASS) and United Global Capital (UGC), whereby 92% of the total claims expected to be paid relate to these two firms. While there is currently no certainty as to ...

Jones instigates CSLR review, levy hits $70m

KARREN VERGARA  |  FRIDAY, 31 JAN 2025
... FY26 levy estimates and blamed the failures of Dixon Advisory & Superannuation Services (DASS) and United Global Capital (UGC) for the massive bill. A whopping 92% of the total claims it expects to pay relate to these two firms. Of the $77.9 million ...

Queensland-based financial firm loses AFSL

MATTHEW WAI  |  FRIDAY, 25 OCT 2024
... Capital Property Fund (in Liquidation) (GCPF) and the Shield Master Fund. GCPF was a flagship fund from United Global Capital (UGC), which is also in liquidation and was ordered to be wound up earlier this month. The sole director of the firm Joel Hewish ...

Global Capital Property to be wound up

KARREN VERGARA  |  TUESDAY, 8 OCT 2024
... Consulting as liquidators to GCPF after ASIC applied for its wind up. Melbourne-based Hewish founded United Global Capital (UGC), which is also in liquidation, and began providing financial services, including financial advice, in 2017 to retail and ...