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Showing 1 - 10 of 79 results for "First Guardian Master Fund"

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

RIDDHIMA TALWANI  |  MONDAY, 29 JUN 2026
... trustees. She added trustees have not learnt lessons from the collapses of the Shield Master Fund and First Guardian Master Fund, which cost more than 11,000 Australians around $1 billion in retirement savings. "Many of the clear gaps in oversight are ...

Diversa drags Praemium into First Guardian lawsuit

KARREN VERGARA  |  TUESDAY, 23 JUN 2026
... over the next four weeks. ASIC is currently suing Diversa Trustees for its role in the collapse of the First Guardian Master Fund, in which $300 million of member money was invested. ASIC alleges Diversa failed to conduct adequate due diligence before ...

Equity Trustees opts out of super trustee business

RIDDHIMA TALWANI  |  MONDAY, 22 JUN 2026
... alleging failures in care, skill and diligence concerning the decision to allow members to invest in the First Guardian Master Fund. The regulator first launched a proceeding against Eqity Trustees in August 2025, alleging failures in due diligence concerning ...

More aggressive than ever: ASIC defends First Guardian investigation

RIDDHIMA TALWANI  |  FRIDAY, 5 JUN 2026
... over the time it has taken to act against Falcon Capital, the responsible entity for the collapsed First Guardian Master Fund. ASIC chair Sarah Court, attending the first parliamentary committee after taking over the role, said the investigation is continuing ...

APRA slaps additional licence conditions on HTFS Nominees

KARREN VERGARA  |  FRIDAY, 29 MAY 2026
... alleging failures in care, skill and diligence concerning the decision to allow members to invest in the First Guardian Master Fund. On the latest action, APRA John Lonsdale said: "Alongside enforcement action, APRA is closely supervising other in-scope ...

AFCA puts InterPrac determinations on ice

KARREN VERGARA  |  FRIDAY, 29 MAY 2026
... issuance of determinations. InterPrac is currently taking action against a former client and victim of the First Guardian Master Fund collapse for an AFCA determination it does not agree with. This is on top of the advice group's lawsuit against ...

'No basis' to ban independent trustee model: Equity Trustees

ELIZA BAVIN  |  THURSDAY, 28 MAY 2026
... generators. It said the most critical point of failure in the value chain regarding Shield Master Fund and First Guardian Master Fund were the two responsible entities. "The misuse of scheme assets for purposes other than investment as disclosed to investors ...

ASIC launches action against Equity Trustees for $65m First Guardian failures

ELIZA BAVIN  |  THURSDAY, 21 MAY 2026
... alleging failures in care, skill and diligence concerning the decision to allow members to invest in the First Guardian Master Fund. This comes after the regulator also launched separate proceedings against Equity Trustees in August 2025, alleging failures ...

Mulino targets retail investor protections, high-risk MISs: SIAA

KARREN VERGARA  |  TUESDAY, 19 MAY 2026
... this morning, flagging how regulators will use their new funding bonanza to prevent another Shield and First Guardian Master Fund disaster. Providing more details about how the government is approaching new regulation around MISs, which received a nearly ...

InterPrac targets First Guardian victim, disputes AFCA ruling

KARREN VERGARA  |  FRIDAY, 15 MAY 2026
InterPrac Financial Planning is taking action against a former client and victim of the First Guardian Master Fund collapse for an Australian Financial Complaints Authority (AFCA) determination it is vehemently contesting. The new proceeding comes off ...
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