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Showing 1 - 10 of 149 results for "First Guardian"

Federal Court lifts Merhi's travel ban

KARREN VERGARA | MONDAY, 13 JUL 2026

... Financial Services Group Australia. Between 2020 and 2024, clients were advised to invest some $296 million into the First Guardian Master Fund and $230 million into the Shield Master Fund. ASIC calculates Merhi's businesses allegedly received nearly ...

FAAA urges insolvency crackdown to curb soaring CSLR costs

VINNY VUCAGO | THURSDAY, 9 JUL 2026

... the increase had been driven by the collapse of managed investment schemes linked to Dixon Advisory, Shield and First Guardian. "Insolvency should not be an easy solution for those who have caused detriment to others," Anderson said. Anderson argued ...

First Guardian victims recoup 8% of $38m loan

KARREN VERGARA | FRIDAY, 3 JUL 2026

Victims of the First Guardian Master Fund will only recoup $2.9 million out of a $38.3 million loan made by responsible entity Falcon Capital, according to liquidators who said the amount represents a realistic commercial value compared to alternative ...

Financial services CSLR Levy hits $198m

MATTHEW WAI | THURSDAY, 2 JUL 2026

... related to Dixon Advisory, while including the first tranche of some 474 claims from the collapses of Shield and First Guardian Master Funds. These claims represent over $30.1 million in gross claim payments according to data provide by the CSLR. The ...

Advice fee spike raises super concerns: SMC

VINNY VUCAGO | MONDAY, 29 JUN 2026

... Schubert said. SMC's submission To the federal government's consultation following the collapses of Shield and First Guardian also found the growth rate in advice fees had nearly tripled over the past two years, reinforcing the need for stronger ...

ASIC calls out platform trustees: 'Clear breach of trust'

RIDDHIMA TALWANI | MONDAY, 29 JUN 2026

... fees, holding limits and unusual fund flows. APRA wrote to trustees in in October last year in the wake of the First Guardian and Shield Master Fund collapses, alerting them to the need to strengthen their investment governance processes. Since then ...

FSC links active super choices to stronger retirement outcomes

VINNY VUCAGO | FRIDAY, 26 JUN 2026

... their financial future," Briggs said. The findings comes as policymakers consider reforms following the Sheild and First Guardian collapses. While supporting targeted measures to address alleged misconduct, Briggs cautioned against changes that could ...

APRA investigating Diversa's executive compensation

RIDDHIMA TALWANI | THURSDAY, 25 JUN 2026

... the investigation will not consider whether Diversa is responsible for member losses arising from the collapse of First Guardian, which is currently the subject of ASIC's proceedings in the Federal Court. ASIC has put forth several allegations, starting ...

Diversa drags Praemium into First Guardian lawsuit

KARREN VERGARA | TUESDAY, 23 JUN 2026

Praemium and its subsidiaries are now caught up in the ASIC-led First Guardian legal saga, having been thrown in the mix by Diversa Trustees. Praemium this morning announced, together with Powerwrap and One Vue Wealth Services (OVWS), it received notices ...

Equity Trustees opts out of super trustee business

RIDDHIMA TALWANI | MONDAY, 22 JUN 2026

... its subsidiary Equity Trustees Superannuation Limited (ETSL), after facing continued scrutiny over the Shield and First Guardian collapses. Equity Trustees commenced a strategic review of its super business early this year. It said this is part of a ...

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Federal Court lifts Merhi's travel ban

KARREN VERGARA

Former financial adviser Ferras Merhi is now free to travel as the Federal Court lifted travel restraint orders imposed one year ago.

Hostplus delivers double-digit FY26 returns

RIDDHIMA TALWANI

Hostplus Balanced (MySuper) option delivered members 10.8% for the financial year 2025-26, while the Indexed Balanced option and the High Growth option returned members 11.06% and 12.61% respectively.

ASIC levy estimates jump 19% as regulator ramps up funding

VINNY VUCAGO

ASIC has lifted its estimated industry funding levy by almost 20% for 2025-26, with regulated entities expected to shoulder $400.5 million in regulatory costs as the corporate watchdog expands its supervision and enforcement activities.

GQG bleeds over US$7bn in FUM in June

MATTHEW WAI

Despite recording positive investment performance, GQG Partners observed a significant outflow, with net outflows of $4.62 billion recorded in the month of June, as FUM slipped to $225 billion at June end, compared to $235.5 billion in the month prior.

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