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Showing 1 - 10 of 21 results for "First Guardian Master Funds"

Sequoia plots potential restructure

MATTHEW WAI  |  FRIDAY, 18 SEP 2026
... with the Australian Financial Complaints Authority (AFCA) regarding the collapse of the Shield and First Guardian Master Funds. The loss from the managed investment schemes is totalling over $1 billion from thousands of victims. The group also recently ...

Regulatory reform omnibus bill passage trims CSLR levy disallowance period, payouts

KARREN VERGARA  |  TUESDAY, 15 SEP 2026
... estimate also includes the first tranche of some 474 claims stemming from the collapses of the Shield and First Guardian master funds. These represent over $30.1 million in gross claim payments according to data provide by the CSLR. Melinda Kee, who ...

Tribunal affirms InterPrac, FSGA adviser bans

MATTHEW WAI  |  FRIDAY, 11 SEP 2026
... Financial Planning and Financial Services Group Australia (FSGA) who were involved in the Shield and First Guardian master funds for five years. Andrew Hanley and Shane Monte Silva received their verdicts after applying to the tribunal to review their ...

Trustees, platforms, cyber risk under APRA spotlight

KARREN VERGARA  |  FRIDAY, 21 AUG 2026
... 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 entities ...

Federal Court confirms Netwealth's First Guardian failures

MATTHEW WAI  |  FRIDAY, 21 AUG 2026
... underway against 31 defendants and is investigating alleged misconduct relating to the Shield and First Guardian Master Funds. The First Guardian Diversified Class and Growth Class were made available to adviser-led members through Netwealth's Super ...

New investment governance provider for AFSL launches

MATTHEW WAI  |  TUESDAY, 18 AUG 2026
... investment schemes failure. Speaking to Financial Standard, Bhana said the collapses of the Shield and First Guardian Master Funds reflected the immediate need for an institutionalised level of governance in the industry and licensees should no longer ...

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 ...
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