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Showing 31 - 40 of 340 results for "Victims"

Diversa to 'vigorously defend' ASIC allegations

KARREN VERGARA  |  WEDNESDAY, 10 DEC 2025
... members and the service providers essential to the operation of our products." To help YourChoice, AusPrac and Praemium victims, the trustee has arranged with Starlight Psychology to offer a Member Assistance Program (MAP) to members free of charge.

ASIC sues Diversa for First Guardian failures

KARREN VERGARA  |  TUESDAY, 9 DEC 2025
... Diversa, ASIC deputy chair Sarah Court said: "This action furthers ASIC's commitment to seek compensation for the victims of the Shield and First Guardian collapses wherever possible. Our first priority has been preserving assets for the benefit ...

Shield proposes to liquidate equities to pay investors

KARREN VERGARA  |  WEDNESDAY, 3 DEC 2025
The Shield Master Fund (SMF) is expected to make a distribution to victims by selling a large portion of its listed equities portfolio, according to liquidators Alvarez & Marsal. Keystone Asset Management, which is the responsible entity for the Shield ...

Prevention of Shield, First Guardian-like events the focus from here on: Mulino

MATTHEW WAI  |  THURSDAY, 20 NOV 2025
... financial services Daniel Mulino told the Financial Advice Association Australia (FAAA) Congress. Although compensating victims remains a key priority for the government and the financial advice industry, Mulino said preventing such incidents from ever ...

ASIC slaps MWL adviser with ban over Shield involvement

MATTHEW WAI  |  WEDNESDAY, 22 OCT 2025
... Superannuation Limited (ETSL). ASIC has commenced legal proceedings against both trustees. Last month, MIML reimbursed victims' retirement savings, while ETSL maintains its innocence. Meanwhile, ASIC continues to investigate Keystone Asset Management ...

Feature: Compliance | Passing the buck

ELIZA BAVIN  |  WEDNESDAY, 15 OCT 2025
... you don't pay, you don't play the game," he says. The platforms InterPrac managing director Garry Crole says the victims should be "fully compensated" via superannuation funds' reserves - passing the blame to the platforms and trustees. InterPrac ...

ASIC seeks compensation for Shield victims from EQT

ELIZA BAVIN  |  MONDAY, 13 OCT 2025
... approval." Equity Trustees Superannuation Limited (ETSL) director Mick O'Brien said EQT maintains that losses incurred by victims were not due to ETSL's actions. "ETSL maintains that it has acted in accordance with its fiduciary duties and obligations ...

ASIC helping with law reform over Shield, First Guardian

ELIZA BAVIN  |  FRIDAY, 10 OCT 2025
... "more work to be done to hold key players to account" and said ASIC was actively exploring avenues for compensation for victims. "We are actively working with Treasury and the government to look at options for law reform in this area," he said. "We are ...

Macquarie Wrap removes dozens of funds

JAMIE WILLIAMSON  |  WEDNESDAY, 1 OCT 2025
... a number of funds." It follows Macquarie agreeing to reimburse the retirement savings of about 3000 Shield Master Fund victims, whose superannuation was invested in the fund via Macquarie Wrap. The Macquarie Superannuation Plan has about $57 billion ...

CSLR publishes paid claims details

JAMIE WILLIAMSON  |  FRIDAY, 26 SEP 2025
... be many more to come, with the Australian Financial Complaints Authority opting to reinstate UGC's membership to ensure victims of the Shield and First Guardian collapses can access recourse. Anne Street Partners, Nextgen Financial Group, Dover Financial ...