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Showing 1 - 10 of 190 results for "First Guardian"

Stumping up

RIDDHIMA TALWANI  |  WEDNESDAY, 14 OCT 2026
... Vincent Plant, testified before last month's parliamentary committee inquiry into the collapse of the Shield and First Guardian master funds. The two funds were marketed as high-returning alternatives to mainstream super. They collapsed in 2024 ...

'Flawed' CSLR model needs to be redesigned: SMC

MATTHEW WAI  |  WEDNESDAY, 14 OCT 2026
... Tier 1 and Tier 2 contributions shrink, the gap is spread across trustees that "had no part" in the collapses of First Guardian and Shield Master Funds. SMC added the government has also failed to address a viability assessment or any evidence supporting ...

FAAA says super trustees should stump up for CSLR

RIDDHIMA TALWANI  |  THURSDAY, 8 OCT 2026
... zero." FAAA also recommended Treasury reassess superannuation trustees as connected to the failures of Shield and First Guardian and be allocated to pay the CSLR. "The exclusion of superannuation trustees in relation to Shield and First Guardian is difficult ...

ASIC sues another former Venture Egg adviser

VINNY VUCAGO  |  WEDNESDAY, 7 OCT 2026
... remuneration laws and provided unsuitable advice that directed hundreds of clients' superannuation into the collapsed First Guardian Master Fund. Saad was an authorised representative of Interprac Financial Planning between 17 June 2016 and 31 December ...

APRA flexes fresh powers, zeros in on trustees

ELIZA BAVIN  |  WEDNESDAY, 30 SEP 2026
... consistently strong safeguards, rigorous oversight and timely action when risks emerge. The failures of Shield and First Guardian demonstrate the serious harm that can occur when members accumulate concentrated holdings in poor or unsuitable investment ...

Netwealth to defend First Guardian class action

RIDDHIMA TALWANI  |  FRIDAY, 25 SEP 2026
... class action brought against it by Keily McCrosson, a boutique law firm based in Melbourne, around the collapse of First Guardian. Netwealth said it subsidiaries Netwealth Investments and Netwealth Superannuation Services have been served with a Statement ...

Treasury consults to improve data visibility into MISs

RIDDHIMA TALWANI  |  WEDNESDAY, 23 SEP 2026
... investment schemes (MISs) to provide more data to help identify emerging risks earlier. The collapse of Shield and First Guardian highlighted gaps in regulators' visibility of the sector, which costed Australians $1 billion of their retirement savings. ...

Equity Trustees pushes bidders for better price

RIDDHIMA TALWANI  |  TUESDAY, 22 SEP 2026
... Trustees alleges failures in care, skill and diligence concerning the decision to allow members to invest in the First Guardian Master Fund and Shield Master Fund. Both collapses have led close to $143 million in losses to members in funds under Equity ...

Netwealth faces potential class action over First Guardian failure

RIDDHIMA TALWANI  |  MONDAY, 21 SEP 2026
... has received letters of potential class action, alleging it breached duties while offering and monitoring certain First Guardian investment options available through the Netwealth Superannuation Master Fund. No proceedings have yet been filed. Netwealth ...

Sequoia plots potential restructure

MATTHEW WAI  |  FRIDAY, 18 SEP 2026
... complaints sitting with the Australian Financial Complaints Authority (AFCA) regarding the collapse of the Shield and First Guardian Master Funds. The loss from the managed investment schemes is totalling over $1 billion from thousands of victims. The ...
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