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Showing 21 - 30 of 149 results for "First Guardian"

Investors the biggest losers in 2026 Budget

KARREN VERGARA  |  WEDNESDAY, 13 MAY 2026
... review to focus on governance and oversight of registered MISs used by retail investors following the collapses of First Guardian and Shield Master Funds. The aged care sector will receive a $3.7 billion boost to increase the supply of residential aged ...

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

MATTHEW WAI  |  TUESDAY, 12 MAY 2026
... review to focus on 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 ...

ASIC bans property wealth coach operating without licence

RIDDHIMA TALWANI  |  MONDAY, 11 MAY 2026
... 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, such as a detailed ...

Performance test reforms to curb benchmark hugging: Treasury

KARREN VERGARA  |  FRIDAY, 8 MAY 2026
... modernise and strengthen the performance test can provide strong protections in light of the collapse of Shield and First Guardian. Super Members Council chief executive Misha Schubert said the fact that tens of thousands of Australians have been exposed ...

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

MATTHEW WAI  |  FRIDAY, 8 MAY 2026
... fixed to make 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 ...

Lead generation a 'conveyor belt of harm': Longo

RIDDHIMA TALWANI  |  THURSDAY, 7 MAY 2026
... consumer harm". Lead generation activities have been in the purview of the regulator after the collapse of Shield and First Guardian. Many victims transferred their superannuation savings into the risky investments after a call from a lead generator ...

Sequoia abandons InterPrac sale

KARREN VERGARA  |  FRIDAY, 1 MAY 2026
... complaints 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 ...

Netwealth reports $4bn net inflows

ELIZA BAVIN  |  THURSDAY, 16 APR 2026
... net flows to remain mostly unchanged from FY25, and an EBITDA margin of around 49%, excluding any impact from the First Guardian fund collapse. Netwealth added it has launched a range of artificial intelligence (AI) training courses across the business ...

ASIC acts against another former FSGA adviser

JAMIE WILLIAMSON  |  MONDAY, 13 APR 2026
... An adviser that ASIC said was experienced enough to know better than to advise clients to invest in Shield and First Guardian has been banned for five years. Shane Monte Silva failed to act in certain clients' best interests when he told them to switch ...

ASIC bans former adviser Rhys Reilly for 10 years

KARREN VERGARA  |  MONDAY, 13 APR 2026
... has been 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 ...