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Showing 81 - 90 of 1533 results for "Master"

MIS review ignores key issues: FAAA

KARREN VERGARA  |  TUESDAY, 3 MAR 2026
... review into managed investment schemes (MISs) falls short of addressing critical issues that could prevent another Shield Master Fund and First Guardian Master Fund disaster, the Financial Advice Association Australia (FAAA) says. The FAAA highlighted ...

AFCA reveals outcome of final lead decision

MATTHEW WAI  |  MONDAY, 2 MAR 2026
... existing superannuation into establishing a self-managed super fund (SMSF) and invest in three funds, including the Shield Master Fund. AFCA was told that the firm's advice involved an unnecessary and inappropriate level of risk. UGC took over responsibility ...

AFCA receives record complaints in 2025

MATTHEW WAI  |  THURSDAY, 26 FEB 2026
... The increase in complaints was spread across all financial products, including the demise of Shield and First Guardian Master Funds across the financial advice and superannuation sectors, AFCA said. Large-scale collapses in the financial advice sector ...

Governance issues on the rise: ASIC

ELIZA BAVIN  |  WEDNESDAY, 25 FEB 2026
... refunds. This includes the court enforceable undertakings that saw Macquarie pay $321 million to around 3000 affected Shield Master Fund investors and Netwealth pay $101 million to more than 1000 affected First Guardian Master Fund investors. "ASIC has ...

Sequoia weighs InterPrac's fate, launches review

KARREN VERGARA  |  TUESDAY, 24 FEB 2026
Following the demise of the Shield and First Guardian master funds, regulatory pressure and being blacklisted from several platforms, Sequoia Financial Group is now reviewing the viability of InterPrac Financial Planning. Sequoia managing director and ...

SMSFs avoid advisers due to lack of asset-specific support

MATTHEW WAI  |  FRIDAY, 20 FEB 2026
... the lack of regulatory oversight of the asset class can result in outcomes like those seen with Shield and First Guardian Master Funds. "If there are 1000 people investing 100% of their SMSF in crypto, it creates an enormous structural risk, where we ...

Super outflows persist but profits up at Insignia Financial

RIDDHIMA TALWANI  |  THURSDAY, 19 FEB 2026
Insignia Financial's Master Trust has posted net outflows of $1.5 billion in 1H26, an increase from $671 million in 2H25. "In the Master Trust business, advised and personal channel outflows remain challenging. We are progressing targeted initiatives ...

Netwealth reports HY loss after $100m payment to First Guardian victims

ELIZA BAVIN  |  WEDNESDAY, 18 FEB 2026
... has reported a half year net loss of $2.2 million after refunding more than $100 million to victims of the First Guardian Master Fund collapse. Excluding the First Guardian expense, Netwealth said net profit after tax would have grown 19.9% to $69 million. ...

ASIC reviews lead generators again, names advisers using them

JAMIE WILLIAMSON  |  WEDNESDAY, 18 FEB 2026
... needed, ASIC said it will take disruptive and enforcement action. It comes on the back of the collapses of the First Guardian Master Fund and Shield Master Fund, both of which were spruiked by financial advisers who used lead generation services and ...

Senate questions APRA's role in Shield, First Guardian disaster

KARREN VERGARA  |  FRIDAY, 13 FEB 2026
APRA's role as prudential regulator in the wake of the First Guardian Master Fund and Shield Master Fund collapses came under the spotlight at a recent parliamentary hearing. APRA chair John Lonsdale told the Senate Economics Legislation Committee that ...