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Showing 31 - 40 of 1325 results for "AFFECTED"

Senate questions APRA's role in Shield, First Guardian disaster

KARREN VERGARA  |  FRIDAY, 13 FEB 2026
... options, and remedial action where member outcomes are not being delivered," he said. The collapse of the two funds has affected 11,000 members and their $1 billion in retirement savings, according to ASIC. In December 2025, APRA accepted a court enforceable ...

ASIC imposes licence conditions on Cambridge Mercantile

ANGELIQUE MINAS  |  THURSDAY, 12 FEB 2026
... classification of its retail and wholesale clients. The investigation also found that Cambridge did not promptly remediate affected clients for amounts that are projected to total millions of dollars. ASIC further found the firm failed to maintain adequate ...

Commonwealth Super Corp to consolidate legacy IT systems

MATTHEW WAI  |  MONDAY, 9 FEB 2026
... In the initial phase of several upcoming updates, Defined Contribution schemes - PSSap, CSCri, and ADF Super - will be affected. Transactions will pause, and CSC Navigator will be unavailable for these accounts. The upgrade will restrict members from ...

Deadline approaches for Shield, First Guardian victims

MATTHEW WAI  |  FRIDAY, 6 FEB 2026
... to file a complaint approaching as early as 31 March 2026, ASIC and SCA are urging people to check if their super was affected. "There are hard deadlines, and once they pass, people may miss out on compensation," SCA chief executive Xavier O'Halloran ...

Petra Capital fined over misreporting of 15k trades

MATTHEW WAI  |  THURSDAY, 5 FEB 2026
... information, leading to one client appearing as multiple clients on 3632 occasions. It was caused by a system update and affected 14,741 trades between 3 March 2022 and 5 December 2023, ASIC said. Following an ASIC query regarding some inaccuracies in ...

'Generous' UK State Pension reforms to hit expats

KARREN VERGARA  |  FRIDAY, 16 JAN 2026
... super - affects the amount you get," he said. He notes that the UK State Pension is not tied to a profession as clients affected come from different industries. Rather, the changes apply to many British people who "ended up in Australia chasing the sun." ...

AFCA streamlines approach to over 1800 Shield, First Guardian complaints

MATTHEW WAI  |  MONDAY, 22 DEC 2025
... Shield Master Fund and First Guardian Master Fund complaints, aiming to deliver a "consistent and fair" outcome for all affected investors. The lead decisions for MWL Financial Services, Financial Services Group Australia, United Global Capital and Next ...

Most read in 2025: Superannuation

ELIZA BAVIN  |  MONDAY, 22 DEC 2025
... attempted to breach the systems of several superannuation funds in April, although most attacks were repelled, thousands were affected. Later that month, AustralianSuper confirmed 600 members had their accounts accessed in the cyberattack and 10 suffered ...

Diversa to 'vigorously defend' ASIC allegations

KARREN VERGARA  |  WEDNESDAY, 10 DEC 2025
... these statutory applications and can confirm that any financial assistance provided will be applied for the benefit of affected members." Diversa is the trustee of 16 super funds that have 350,000 members. It acted as trustee of the Praemium SMA Superannuation ...

1659 First Guardian, Shield complaints reach AFCA

KARREN VERGARA  |  MONDAY, 8 DEC 2025
... Singh said while 1559 was a big number, he was concerned that AFCA had not received more given the total number of people affected. "I am concerned that people don't fully understand the extent of their losses. They don't know who to complain ...