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Showing 71 - 80 of 130 results for asic shield

SMC makes recommendations to safeguard super

ELIZA BAVIN  |  MONDAY, 17 NOV 2025
... corporate regulator continues to launch legal action against those involved in the collapses of Shield and First Guardian. ASIC deputy chair Sarah Court said the misconduct was on an "industrial scale." SMC said the First Guardian and Shield collapses ...

ASIC acts against MWL, its director and lead generator

ANGELIQUE MINAS  |  THURSDAY, 13 NOV 2025
ASIC is taking legal action against MWL Financial Services, its former director Nicholas Maikousis, and lead generator Imperial Capital Group Australia over alleged Shield advice failures. ASIC alleges that MWL operated a business model that provided ...

SQM Research faces court over 'favourable' rating of Shield

MATTHEW WAI  |  THURSDAY, 13 NOV 2025
ASIC is suing SQM Research over its 'favourable' rating for the Shield Master Fund, marking the first time the watchdog has acted against a research house. ASIC alleges that the research house failed to obtain information needed to properly ...

Interprac sued over Shield, First Guardian failures

JAMIE WILLIAMSON  |  THURSDAY, 13 NOV 2025
ASIC is taking Interprac Financial Planning to court over its failure to ensure representatives acted in clients' best interests. It's also been accused of lacking adequate risk management systems. The regulator said it was because of "critical ...

Majority of SMSF establishments based on bad advice: ASIC

KARREN VERGARA  |  THURSDAY, 6 NOV 2025
... established under the recommendations of a financial adviser are unsuitable to their needs and put retirement savings at risk, an ASIC review reveals. Of 100 financial advice files investigated, 62 failed to demonstrate compliance with the best interests ...

ASIC considers 'cooling off period' for super switching

ELIZA BAVIN  |  THURSDAY, 6 NOV 2025
ASIC chair Joe Longo has said introducing "frictions" into the super switching process could help avoid a repeat of the First Guardian and Shield "catastrophe". "No one wants to preside over a problem like this if there are some potential solutions. ...

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

JAMIE WILLIAMSON  |  THURSDAY, 30 OCT 2025
... changes to legislation to ensure the independence of REs governing managed investment schemes, which were also shares with ASIC and APRA. "We believe the industry, working together, can come up with improvements that minimise the chance of these terrible ...

Crown Wealth director banned for two years

KARREN VERGARA  |  THURSDAY, 30 OCT 2025
ASIC has banned another former Crown Wealth Group staffer from working in the financial services industry for showing incompetence in addressing fees-for-no-service (FFNS) misconduct. Brendan Rodwell, who was the director of Crown Wealth Group, was ...

Court blocks Merhi from financial services

KARREN VERGARA  |  TUESDAY, 28 OCT 2025
Venture Egg financial adviser Ferras Merhi has been banned from working in financial services after ASIC successfully obtained interim restraining orders from the Federal Court. Yesterday, Justice Moshinsky restrained Merhi "through his servants, agents ...

Macquarie to shed more than 240 investment options

KARREN VERGARA  |  FRIDAY, 24 OCT 2025
... the OC Dynamic Equity Fund were also closed to super investors. The move comes at the fallout of the Shield Master Fund. ASIC and Macquarie are now battling it out in the Federal Court as the regulator alleges MIM did not act efficiently, honestly and ...