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Showing 21 - 30 of 340 results for "Victims"

Advisers need more support: FAAA submission

ANGELIQUE MINAS  |  THURSDAY, 5 FEB 2026
... work more efficiently on behalf of their clients, it said. "The FAAA remains supportive of a scheme to compensate the victims of financial misconduct, but the current CSLR is unsustainable and unfair on advisers who have done nothing wrong," Abood said. ...

Super trustees told to up fraud protection game

MATTHEW WAI  |  WEDNESDAY, 4 FEB 2026
... of superannuation website content confirmed that super funds often lacked clarity, accessibility, and support for scam victims. When benchmarked against other industries, super funds fell short for victims," she said. "It is time for super trustees to ...

Government consults on victim access to child sex abusers' super

MATTHEW WAI  |  TUESDAY, 3 FEB 2026
... legislation to prevent convicted child sexual abusers from hiding their assets in superannuation to avoid compensating their victims. Identical to the January 2023 discussion paper, the draft legislation proposes to enable victims and survivors to access ...

'Gross breach of trust': Former adviser sentenced to six years imprisonment

RIDDHIMA TALWANI  |  FRIDAY, 23 JAN 2026
... superannuation funds during the period March 2010 and January 2015. He pleaded guilty to the charges early last year. Torre's victims included a couple over the age of 60 who were defrauded $500,000 and another man over the age of 60 who had $150,000 ...

EQT stands firm on defence, blames ASIC, third parties

KARREN VERGARA  |  MONDAY, 19 JAN 2026
... sufficiently assess the First Guardian Master Fund before making it available to super members and will repay $101 million to victims.

Small win for First Guardian victims amid platform transition

JAMIE WILLIAMSON  |  MONDAY, 5 JAN 2026
First Guardian victims who have been forced to remain members of the super funds that wronged them are now able to transfer out. Since the collapse of the investment scheme, members of AusPrac Super and YourChoice Super were essentially forced to remain ...

AFCA streamlines approach to over 1800 Shield, First Guardian complaints

MATTHEW WAI  |  MONDAY, 22 DEC 2025
... They were instructed to roll over their existing balance into the SMSF and invest most of it in Shield, as many other victims did. Meanwhile, the complaint for Financial Services Group Australia refers to inappropriate advice provided by 5 Point Financial ...

Netwealth to spend $101m compensating First Guardian victims

JAMIE WILLIAMSON  |  THURSDAY, 18 DEC 2025
... Master Fund before making it available to super members, Netwealth is being sued by ASIC and will repay $101 million to victims. More than 1000 investors had their money in the First Guardian Master Fund via the Netwealth Superannuation Master Fund. ...

Sequoia expects earnings hit from Shield, First Guardian

KARREN VERGARA  |  TUESDAY, 16 DEC 2025
... respect to Shield and First Guardian. Sequoia, instead, is counting on superannuation funds' reserves to remediate victims. Rainmaker analysis of the ASIC Financial Advisers Register shows that Sequoia currently has 15 advisers under Sequoia Wealth ...

Mulino looks to reform CSLR

ELIZA BAVIN  |  THURSDAY, 11 DEC 2025
... to force the super sector to help foot the multi-million-dollar CSLR bill. It said the CSLR was created to compensate victims of financial misconduct as a last resort after all other options to recover money had been exhausted, with a key design principle ...