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Showing 61 - 70 of 93 results for "First Guardian Master Fund"

ASIC sues Diversa for First Guardian failures

KARREN VERGARA  |  TUESDAY, 9 DEC 2025
ASIC is suing Diversa Trustees for its role in the collapse of the First Guardian Master Fund, in which $300 million of member money was invested. In the Federal Court, ASIC put forth several allegations, starting with Diversa failing to conduct adequate ...

1659 First Guardian, Shield complaints reach AFCA

KARREN VERGARA  |  MONDAY, 8 DEC 2025
The number of Shield Master Fund and First Guardian Master Fund-related complaints lodged with the Australian Financial Complaints Authority (AFCA) has grown to 1659. AFCA said the latest figure represents the total as at December 3. AFCA did not provide ...

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

MATTHEW WAI  |  THURSDAY, 20 NOV 2025
Establishing a framework to prevent disasters like the Shield Master Fund and First Guardian Master Fund from happening again will be the focus moving forward, minister for financial services Daniel Mulino told the Financial Advice Association Australia ...

SQM Research faces court over 'favourable' rating of Shield

MATTHEW WAI  |  THURSDAY, 13 NOV 2025
... assessing the claim and declined to make further comment. SQM Research also provided ratings for the First Guardian Master Fund. Earlier this year, SQM Research managing director Louis Christopher explained the assigned ratings, stating that they reflected ...

Interprac sued over Shield, First Guardian failures

JAMIE WILLIAMSON  |  THURSDAY, 13 NOV 2025
... Reilly Pty Ltd advised about 6843 clients to invest some $677 million into the Shield Master Fund and First Guardian Master Fund. Of these, Venture Egg and its principal Ferras Merhi advised 2930 clients to invest a total of $243 million in First Guardian ...

Majority of SMSF establishments based on bad advice: ASIC

KARREN VERGARA  |  THURSDAY, 6 NOV 2025
... particularly in the pre-vetting process. Kirkland pointed to the collapses of the Shield Master Fund and First Guardian Master Fund as the "worst-case scenario" for switching superannuation funds based on bad advice. "SMSF trustees should be aware of ...

Equity Trustees to ask Mulino for help amid First Guardian, Shield fallout

JAMIE WILLIAMSON  |  THURSDAY, 30 OCT 2025
... Limited does not consider itself responsible for the losses incurred by members who invested in the First Guardian Master Fund (FGMF) or Shield Master Fund. It's estimated about $73 million was lost by Shield investors, while members of super funds ...

Crown Wealth director banned for two years

KARREN VERGARA  |  THURSDAY, 30 OCT 2025
... pursued a technical issue against Crown, he said, large-scale investment fund failures such as the First Guardian Master Fund and the Shield Master Fund have caused widespread financial harm to Australians. "The cynic in me would say ASIC had to meet ...

Court blocks Merhi from financial services

KARREN VERGARA  |  TUESDAY, 28 OCT 2025
... interim injunctions form part of ASIC's ongoing investigations into the Shield Master Fund and First Guardian Master Fund. Merhi, who was also the principal of Venture Egg and Financial Services Group Australia (FSGA), had his assets frozen in February ...

Netwealth invokes Part 23 of SIS Act in First Guardian response

JAMIE WILLIAMSON  |  MONDAY, 27 OCT 2025
... must also be in the public interest. Some 1088 Netwealth members are impacted by the collapse of the First Guardian Master Fund (FGMF), with about $101 million estimated to have been lost. Netwealth said the purpose of the application is to ensure members ...