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Showing 1 - 10 of 93 results for "First Guardian Master Fund"

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
Superannuation trustees, platforms and cyber resilience will be under more scrutiny in the 2027 financial year from the prudential regulator. APRA laid out its priorities in its newly published 2026-27 Corporate Plan, firing warning shots at trustees ...

Federal Court confirms Netwealth's First Guardian failures

MATTHEW WAI  |  FRIDAY, 21 AUG 2026
... 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 ...

APRA targets platform trustees, welcomes stronger powers

KARREN VERGARA  |  THURSDAY, 20 AUG 2026
... said it wants better oversight and accountability from platform trustees in the wake of the Shield and First Guardian Master Fund collapses, in which one or both sat on several platforms such as Equity Trustees and Netwealth. While the investment governance ...

Mulino unveils sweeping reforms to cold calling, MISs

KARREN VERGARA  |  WEDNESDAY, 19 AUG 2026
... predatory superannuation switching and managed investment schemes (MISs) in the wake of the Shield and First Guardian Master Fund collapses, which lost an estimated $1 billion in retirement savings and will subsequently bestow the three major regulators ...

Global investment manager bids for Equity Trustees

MATTHEW WAI  |  TUESDAY, 18 AUG 2026
... 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.

New investment governance provider for AFSL launches

MATTHEW WAI  |  TUESDAY, 18 AUG 2026
A new investment governance service provider has opened its doors for small to medium-sized Australia financial services licence (AFSL) holders to enhance and strengthen their governance frameworks. Founded by three former Russell Investments directors ...

ASIC ramps up enforcement action

VINNY VUCAGO  |  MONDAY, 10 AUG 2026
... substantial debts and losses for creditors. ASIC also banned 15 advisers linked to the Shield Master Fund or First Guardian Master Fund during the financial year and took further action against associated licensees and responsible individuals. "Every ...

Sequoia caves into InterPrac sale undertaking, ASIC withdraws proceedings

KARREN VERGARA  |  WEDNESDAY, 5 AUG 2026
... would have seen the Sequoia group of entities divest itself of liabilities stemming from the Shield and First Guardian master fund collapses. In the ASX announcement, Sequoia said the Federal Court "approved an undertaking from InterPrac and Sequoia ...

ASIC sues First Guardian-linked auditors

KARREN VERGARA  |  FRIDAY, 31 JUL 2026
... ASIC has commenced proceedings against Auditeo Australia and two auditors for their involvement in the First Guardian Master Fund failure. ASIC alleges that unqualified audit reports on First Guardian and its compliance plan for the 2020 to 2024 financial ...
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