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Showing 41 - 50 of 193 results for "First Guardian"

ASIC sues First Guardian-linked auditors

KARREN VERGARA  |  FRIDAY, 31 JUL 2026
ASIC has commenced proceedings against Auditeo Australia and two auditors for their involvement in the First Guardian Master Fund failure. ASIC alleges that unqualified audit reports on First Guardian and its compliance plan for the 2020 to 2024 financial ...

FSC calls for tougher oversight of advice licensees

VINNY VUCAGO  |  THURSDAY, 30 JUL 2026
... 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 AFSL framework places ...

Crole exits Sequoia effective immediately

KARREN VERGARA  |  WEDNESDAY, 22 JUL 2026
... 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 is "in the best ...

FEATURE | Platforms | The investment supermarket

RIDDHIMA TALWANI  |  TUESDAY, 21 JUL 2026
... 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 the collapse of managed ...

Federal Court lifts Merhi's travel ban

KARREN VERGARA  |  MONDAY, 13 JUL 2026
... Financial Services Group Australia. Between 2020 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 ...

FAAA urges insolvency crackdown to curb soaring CSLR costs

VINNY VUCAGO  |  THURSDAY, 9 JUL 2026
... 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 said. Anderson argued ...

First Guardian victims recoup 8% of $38m loan

KARREN VERGARA  |  FRIDAY, 3 JUL 2026
Victims of the First Guardian Master Fund will only recoup $2.9 million out of a $38.3 million loan made by responsible entity Falcon Capital, according to liquidators who said the amount represents a realistic commercial value compared to alternative ...

Financial services CSLR Levy hits $198m

MATTHEW WAI  |  THURSDAY, 2 JUL 2026
... 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 by the CSLR. The ...

Advice fee spike raises super concerns: SMC

VINNY VUCAGO  |  MONDAY, 29 JUN 2026
... Schubert said. SMC's submission To the federal government's consultation following the collapses of Shield and First Guardian also found the growth rate in advice fees had nearly tripled over the past two years, reinforcing the need for stronger ...

ASIC calls out platform trustees: 'Clear breach of trust'

RIDDHIMA TALWANI  |  MONDAY, 29 JUN 2026
... fees, holding limits and unusual fund flows. APRA wrote to trustees in in October last year in the wake of the First Guardian and Shield Master Fund collapses, alerting them to the need to strengthen their investment governance processes. Since then ...