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Showing 1 - 10 of 171 results for "First Guardian"

FAAA pushes to expand NCA to financial advisers

RIDDHIMA TALWANI  |  FRIDAY, 28 AUG 2026
... wasn't necessary to charge a fee. But the government, over time, before we ran into the complication of Shield and First Guardian, had agreed as the result of a lot of advocacy to extend it to include advice practices and allow them to be able to ...

Super trustee business dents Equity Trustees' FY26 results

MATTHEW WAI  |  THURSDAY, 27 AUG 2026
... licence conditions," Equity Trustees said. Despite ongoing legal issues with ASIC, the assessment of the Shield and First Guardian matters "remains unchanged", with no additional provisions or contingent liabilities recognised beyond those already disclosed. ...

Sequoia gives InterPrac sale a second shot

ELIZA BAVIN  |  THURSDAY, 27 AUG 2026
... intervention would have seen the Sequoia group of entities divest itself of liabilities stemming from the Shield and First Guardian master fund collapses.

AFCA moves to reinstate APT Strategy, opens doors for victims

KARREN VERGARA  |  THURSDAY, 27 AUG 2026
... consumers." Empathising with former Australian Fiduciary and APT Strategy clients, Melinda Kee, a victim of the failed First Guardian Master Fund commented: "This has been a long and complicated process for Australian Fiduciaries investors, and I'm genuinely ...

Netwealth profit hit by First Guardian costs

VINNY VUCAGO  |  WEDNESDAY, 26 AUG 2026
... administration in FY26, though its statutory result was weighed down by $74 million in after-tax costs related to the First Guardian Master Fund collapse. The platform provider incurred a $71 million post-tax compensation charge for affected members ...

Second bidder emerges for Equity Trustees

MATTHEW WAI  |  MONDAY, 24 AUG 2026
... Limited, following two ASIC lawsuits alleging failures in care, skill and diligence in the recommendation of the First Guardian Master Fund. Equity Trustees has since announced that it is defending against the claims. ASIC alleges EQT failed to exercise ...

First Guardian victims advance in case against InterPrac

KARREN VERGARA  |  FRIDAY, 21 AUG 2026
Two victims of the First Guardian Master Fund linked to InterPrac Financial Planning, who collectively lost $465,000, have won a small victory in the Federal Court. Justice Beach on August 13 ordered InterPrac to pay the sums, which were calculated ...

Trustees, platforms, cyber risk under APRA spotlight

KARREN VERGARA  |  FRIDAY, 21 AUG 2026
... at trustees and platforms, in particular, which have been in the hot seat since the collapse of the Shield and First Guardian master funds. "Trustees offering platforms should expect intensive and risk-based supervisory oversight. This will include ensuring ...

ASIC draws parallels between ASX and super trustee failures

RIDDHIMA TALWANI  |  FRIDAY, 21 AUG 2026
... balances using fake signatures from a deceased adviser. "That's alarming - especially in the wake of the Shield and First Guardian collapses. Oversight isn't optional - it's your job as a trustee and it's what Australians expect," she said. She urged ...

Federal Court confirms Netwealth's First Guardian failures

MATTHEW WAI  |  FRIDAY, 21 AUG 2026
... Netwealth Superannuation Services and Netwealth Investments contravened the Corporations Act in relation to the First Guardian Master Fund. ASIC commenced proceedings against Netwealth after accepting a court enforceable undertaking requiring it to compensate ...
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