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Showing 1 - 10 of 15 results for "First Guardian Master Funds"

Crole exits Sequoia effective immediately

KARREN VERGARA  |  WEDNESDAY, 22 JUL 2026
... Sequoia Financial Group as chief executive effective immediately as the fallout from the Shield and First Guardian master funds and legal action against subsidiary InterPrac Financial Planning rolls on. Crole said his decision is "in the best interests ...

Financial services CSLR Levy hits $198m

MATTHEW WAI  |  THURSDAY, 2 JUL 2026
... 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 first tranche ...

Equity Trustees opts out of super trustee business

RIDDHIMA TALWANI  |  MONDAY, 22 JUN 2026
... advisory costs in the second half of FY26 in relation to ASIC legal proceedings concerning the Shield and First Guardian Master Funds. Total expenditure on the litigation proceedings is expected to be approximately $3.2 million for FY26.

Sequoia delays dividend amid InterPrac sale uncertainty

ELIZA BAVIN  |  THURSDAY, 14 MAY 2026
... with the Australian Financial Complaints Authority (AFCA) regarding the collapse of the Shield and First Guardian Master Funds. Sequoia previously assured shareholders ASIC's concerns around the sale of InterPrac were "unfounded" and it was working ...

Advice industry can't afford CSLR to be an 'unsustainable mess': FAAA

MATTHEW WAI  |  FRIDAY, 8 MAY 2026
... could be paying more," he said. He also lamented the broader issue involving the collapsed Shield and First Guardian Master Funds have unfortunately delayed the progress of the Delivering Better Financial Outcomes (DBFO) reform, noting that advisers ...

Sequoia abandons InterPrac sale

KARREN VERGARA  |  FRIDAY, 1 MAY 2026
... with the Australian Financial Complaints Authority (AFCA) regarding the collapse of the Shield and First Guardian Master Funds. In an update to the ASX, Sequoia said developments subsequent to signing the share sale agreement "resulted in circumstances ...

Sale of Interprac raises eyebrows at ASIC

JAMIE WILLIAMSON  |  WEDNESDAY, 8 APR 2026
... with the Australian Financial Complaints Authority (AFCA) regarding the collapse of the Shield and First Guardian Master Funds. There are currently more than 900 open complaints with AFCA in relation to advice provided by Interprac representatives, and ...

Treasury proposes lead generator, super switching reforms

KARREN VERGARA  |  WEDNESDAY, 8 APR 2026
... Feedback from stakeholders for all three consultations is due on May 22. The collapses of the Shield and First Guardian Master Funds have exposed industry-wide issues and misconduct that until recently have been left unchecked. These have ultimately ...

Super funds must protect members, says Kirkland

MATTHEW WAI  |  FRIDAY, 27 MAR 2026
The detriment of Shield and First Guardian Master Funds undermines trust in the superannuation system, ASIC commissioner Alan Kirkland warned, saying trustees must revise their processes to avoid exploitation by super switching schemes. Speaking at ...

AFCA receives record complaints in 2025

MATTHEW WAI  |  THURSDAY, 26 FEB 2026
... increase in complaints was spread across all financial products, including the demise of Shield and First Guardian Master Funds across the financial advice and superannuation sectors, AFCA said. Large-scale collapses in the financial advice sector led ...
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