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Showing 41 - 50 of 298 results for shield

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 ...

Sequoia offloads InterPrac in $50k fire sale

KARREN VERGARA  |  MONDAY, 23 MAR 2026
... withdrawals for new business for remaining advisers, despite their not being involved whatsoever with the failures of the Shield and First Guardian funds has had a large bearing on Sequoia's divestment decision." Sequoia has already slashed $4.7 ...

FSC questions SMC's claim on younger members' super switches

RIDDHIMA TALWANI  |  MONDAY, 23 MAR 2026
... financial circumstances. It added concerns of misleading data risks distorting the policy debate following the failures of Shield and First Guardian. "It is simply not correct to infer that a superannuation consumer who has switched out of a default ...

Macquarie broke law by not putting Shield on watch list, says court

JAMIE WILLIAMSON  |  FRIDAY, 20 MAR 2026
Macquarie Investment Management breached the Corporations Act by failing to place the Shield Master Fund on a watch list, the Federal Court has found. Handing down findings today, Justice Wheelahan determined Macquarie should have placed the fun on ...

Government looks to better define roles of regulators

ELIZA BAVIN  |  THURSDAY, 19 MAR 2026
... financial services sector. During his speech, Mulino also touched on the public policy questions that have been raised by the Shield and First Guardian collapses. "One is around governance and accountability for managed investment schemes, and this is ...

Sequoia advances InterPrac takeover talks

KARREN VERGARA  |  WEDNESDAY, 18 MAR 2026
... and chief executive Garry Crole flagged InterPrac was facing operational challenges as a result of its involvement in the Shield and First Guardian master fund failures. Chief among its issues is being blacklisted from several platforms, such as Macquarie ...

ASIC considers changes to net asset requirements

ELIZA BAVIN  |  WEDNESDAY, 18 MAR 2026
... NTA financial thresholds were amended was in July 2013. ASIC said now is an appropriate time to review in the wake of the Shield and First Guardian collapses. "In light of recent scheme collapses, we have focused our review on the NTA requirement for ...

CALI pushes for advice reforms as Australians turn to AI

RIDDHIMA TALWANI  |  TUESDAY, 17 MAR 2026
... money. CALI added advice reforms are now more critical than ever, particularly following the collapse of First Guardian and Shield Master Fund. "We have seen firsthand what happens when people don't have access to professional financial advice. They ...