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Showing 61 - 70 of 130 results for asic shield

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 total as at December 3. AFCA did not provide a breakdown of how many related to Shield and First Guardian individually. ASIC estimates that about 11,000 people who invested some $1 billion are impacted by the collapse of the two funds. The number ...

Chalmers accused of sitting on advice for MIS reforms

ELIZA BAVIN  |  THURSDAY, 4 DEC 2025
... did not specify what advice it had given on those seven occasions, the review, which concluded in 2024, highlighted that ASIC needs to take a proactive approach. "The regulatory regime, however, cannot regulate against those determined to break the law ...

Shield proposes to liquidate equities to pay investors

KARREN VERGARA  |  WEDNESDAY, 3 DEC 2025
... propose to set aside sufficient assets to pay the claims of non-investor creditors of Keystone who have lodged proofs of. ASIC commissioner Alan Kirkland told an industry event yesterday the regulator has 10 separate Federal Court proceedings against ...

Sequoia shares dive nearly 50%

KARREN VERGARA  |  TUESDAY, 25 NOV 2025
... subsequently going into a trading pause and the impact it would have on its share price. The AFR published an article titled ASIC sues SQM, Sequoia in fresh Shield, First Guardian blitz at 9:51 am AEDT on November 13. Sequoia's share price opened ...

APRA-regulated funds should not pay CSLR special levy: SMC

MATTHEW WAI  |  MONDAY, 24 NOV 2025
... on the advice sector is not "the right approach". Meanwhile, shadow minister for financial services Pat Conaghan blasted ASIC for its handling, claiming it was "too slow" out of the gate and should take some responsibility for the scheme. "If there was ...

Sequoia boasts of 'good governance' despite ASIC action

JAMIE WILLIAMSON  |  THURSDAY, 20 NOV 2025
... InterPrac advisers. Addressing its annual general meeting this morning, Sequoia chair Mike Ryan said the litigation brought by ASIC last week over Shield and First Guardian was not unexpected and the allegations were not reflective of "any new development". ...

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

MATTHEW WAI  |  THURSDAY, 20 NOV 2025
... shouldn't just focus on one part of the sector. That isn't going to be the right approach." Mulino said he has communicated with ASIC and APRA to strengthen prevention methods, including ways in which platforms can be regulated through stronger oversight ...

Conaghan holds ASIC accountable for Shield, First Guardian mess

KARREN VERGARA  |  THURSDAY, 20 NOV 2025
The shadow minister for financial services Pat Conaghan has thrust ASIC front and centre of the First Guardian and Shield Master Fund collapses, saying it should take accountability for its delayed action and it is high time for its reformation. Conaghan ...

SQM vows to 'respectfully' defend ASIC case

MATTHEW WAI  |  TUESDAY, 18 NOV 2025
Almost a week after ASIC decided to take the research house to court over 'favourable' ratings of the Shield Master Fund, SQM Research has confirmed it will defend itself against the allegations. In a statement overnight, SQM Research managing director ...