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Showing 31 - 40 of 305 results for "Shield"

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

MATTHEW WAI  |  TUESDAY, 12 MAY 2026
... 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 the decision ...

ASIC bans property wealth coach operating without licence

RIDDHIMA TALWANI  |  MONDAY, 11 MAY 2026
... deceptive or unconscionable 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 ...

Performance test reforms to curb benchmark hugging: Treasury

KARREN VERGARA  |  FRIDAY, 8 MAY 2026
... opportunities to 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 ...

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

MATTHEW WAI  |  FRIDAY, 8 MAY 2026
... 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 with the ...

Lead generation a 'conveyor belt of harm': Longo

RIDDHIMA TALWANI  |  THURSDAY, 7 MAY 2026
... "conveyer belt of 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 ...

Sequoia abandons InterPrac sale

KARREN VERGARA  |  FRIDAY, 1 MAY 2026
... relation to 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 ...

ASIC bans another former MWL adviser

ELIZA BAVIN  |  THURSDAY, 23 APR 2026
... This included recommending they invest most of their superannuation into the High Growth class and the Growth class of the Shield Master Fund (Shield) which were high risk investments, or they invest in the Balanced and Conservative classes which were ...

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 concerns over Interprac sale 'unfounded': Sequoia

JAMIE WILLIAMSON  |  FRIDAY, 10 APR 2026
... been made against the licensee by the Australian Financial Complaints Authority (AFCA) regarding its involvement in the Shield and First Guardian collapses. "Sequoia believes that concern is unfounded," it stated today. "Interprac will remain a party ...

Former Venture Egg adviser permanently banned

JAMIE WILLIAMSON  |  THURSDAY, 9 APR 2026
... in his name and was actively involved in the dodgy referral processes that led to significant client losses due to the Shield and First Guardian collapses is now banned. Aristotle Papapavlou is permanently banned from any involvement in the financial ...