Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 41 - 50 of 305 results for "Shield"

Super Consumers Australia raises concerns over Treasury reforms

RIDDHIMA TALWANI  |  THURSDAY, 9 APR 2026
... consultation on the sustainability of the CSLR and the best way for the industry to fund it. These reforms are in response to the Shield and First Guardian collapses, which saw more than 11,000 Australians invest over $1 billion into high-risk and inappropriate ...

Sale of Interprac raises eyebrows at ASIC

JAMIE WILLIAMSON  |  WEDNESDAY, 8 APR 2026
... relation to complaints sitting with the Australian Financial Complaints Authority (AFCA) regarding the collapse of the Shield and First Guardian Master Funds. There are currently more than 900 open complaints with AFCA in relation to advice provided ...

ASIC bans another MWL adviser

RIDDHIMA TALWANI  |  WEDNESDAY, 8 APR 2026
... for advising clients to invest at least 75% of their superannuation savings into the High Growth or Growth class of the Shield Master Fund. ASIC said Lofthouse gave six clients inappropriate advice which was not in their best interests. The ban took ...

Treasury proposes lead generator, super switching reforms

KARREN VERGARA  |  WEDNESDAY, 8 APR 2026
... advice and introduce codification obligations for receiving super funds to review advice fee deductions. "The collapses of Shield and First Guardian have highlighted conduct where switching advice was provided at scale, facilitated by the availability ...

Treasury opens CSLR funding, sustainability consultation

KARREN VERGARA  |  WEDNESDAY, 8 APR 2026
... industry is expected to pay the $126.9 million CSLR levy for FY27. This amount does not account for First Guardian and Shield. The total amount for the wider industry, however, comes to $137.5 million. The levy has jumped from an estimated $75.7 million ...

APRA imposes additional licence conditions on Fiducian

RIDDHIMA TALWANI  |  WEDNESDAY, 1 APR 2026
... practices," APRA deputy chair Margaret Cole said. APRA had written to platform trustees in the wake of the First Guardian and Shield Master Fund collapses, alerting them to the need to strengthen their investment governance processes. APRA said Fiducian ...

Another former Venture Egg adviser slapped with four-year ban

MATTHEW WAI  |  TUESDAY, 31 MAR 2026
... in February 2022 under the supervision of Merhi of Venture Egg, who has since been charged over his involvement in the Shield and First Guardian disaster. Merhi was subsequently banned from working in financial services. On 2 September 2022, Hogan became ...

Super funds must protect members, says Kirkland

MATTHEW WAI  |  FRIDAY, 27 MAR 2026
The detriment of Shield and First Guardian Master Funds undermines trust in the superannuation system, ASIC commissioner Alan Kirkland warned, saying trustees must revise their processes to avoid exploitation by super switching schemes. Speaking at ...

Law blocking abusers from hiding assets in super enters parliament

ELIZA BAVIN  |  WEDNESDAY, 25 MAR 2026
... agreement or award are exempt from the reforms. "This is because the intention is to prevent misuse of superannuation to shield the assets of perpetrators from their victims or survivors," the explanatory memorandum reads. "Certain other types of contributions ...

FEATURE | Regulation: Picking up the pieces

KARREN VERGARA  |  TUESDAY, 24 MAR 2026
... weekly," she says. During that same week she was contacted by Aus Super Compare or AusCompare, a lead generator of the Shield Master Fund and First Guardian Master Fund that is now in liquidation. "It had a legitimate name, and I went on to research ...