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Showing 31 - 40 of 332 results for "Shield"

Advice complaints see biggest increase in FY26: AFCA

MATTHEW WAI  |  TUESDAY, 4 AUG 2026
... consecutive year complaints have exceeded 100,000. Investments and advice complaints increased by 56%, primarily driven by the Shield Master Fund and First Guardian collapses, while complaints alleging the failure to act in the client's best interest ...

FSC calls for tougher oversight of advice licensees

VINNY VUCAGO  |  THURSDAY, 30 JUL 2026
... framework towards ensuring it is operating as intended with effective supervision," Briggs said. He said the collapses of Shield and First Guardian highlighted weaknesses that may have been identified earlier through more proactive supervision. "The ...

Crole exits Sequoia effective immediately

KARREN VERGARA  |  WEDNESDAY, 22 JUL 2026
Garry Crole is exiting Sequoia Financial Group as chief executive effective immediately as the fallout from the Shield and First Guardian master funds and legal action against subsidiary InterPrac Financial Planning rolls on. Crole said his decision ...

FEATURE | Platforms | The investment supermarket

RIDDHIMA TALWANI  |  TUESDAY, 21 JUL 2026
... investment options it puts in front of members. It's a safeguard that, ASIC says, didn't hold up in the case of the Shield and First Guardian failures. Around 11,000 Australians lost more than $1 billion dollars of their retirement savings in ...

Another MWL adviser banned over Shield collapse

RIDDHIMA TALWANI  |  THURSDAY, 16 JUL 2026
... Niu recommended her clients invest most of their superannuation into the High Growth class and the Growth class of the Shield Master Fund (Shield) which was a high-risk investment, or the Balanced class which was a medium risk investment. ASIC said her ...

Federal Court lifts Merhi's travel ban

KARREN VERGARA  |  MONDAY, 13 JUL 2026
... and 2024, clients were advised to invest some $296 million into the First Guardian Master Fund and $230 million into the Shield Master Fund. ASIC calculates Merhi's businesses allegedly received nearly $18 million in upfront advice fees and over $19 ...

FAAA urges insolvency crackdown to curb soaring CSLR costs

VINNY VUCAGO  |  THURSDAY, 9 JUL 2026
... Anderson said much of the increase had been driven by the collapse of managed investment schemes linked to Dixon Advisory, Shield and First Guardian. "Insolvency should not be an easy solution for those who have caused detriment to others," Anderson ...

ASFA strengthens cyber security with new hire

MATTHEW WAI  |  WEDNESDAY, 8 JUL 2026
... specifically around the financial services sector, experts have advised businesses to improve their security measures, not only to shield their digital infrastructure but to also to ensure their governance policies remain compliant.

First Guardian victims recoup 8% of $38m loan

KARREN VERGARA  |  FRIDAY, 3 JUL 2026
... may incur further adverse costs. Many victims disagreed this was "the best commercial outcome". On the First Guardian and Shield Superannuation Discussion group on Facebook, one member described the recoverable amounts as "another fire sale". One member ...

Financial services CSLR Levy hits $198m

MATTHEW WAI  |  THURSDAY, 2 JUL 2026
... cohort of claims related to Dixon Advisory, while including the first tranche of some 474 claims from the collapses of Shield and First Guardian Master Funds. These claims represent over $30.1 million in gross claim payments according to data provide ...