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Showing 1 - 10 of 505 results for "Guardian"

ASIC takes action on Falcon Capital directors

KARREN VERGARA  |  MONDAY, 2 NOV 2026
ASIC is suing the directors of Falcon Capital, the responsible entity for the failed First Guardian Master Fund, alleging "serious and widespread failures" in their oversight. ASIC commenced civil penalty proceedings in the Federal Court against Falcon ...

FAAA calls for tougher oversight across all MISs

VINNY VUCAGO  |  WEDNESDAY, 28 OCT 2026
... evidence of strong investment performance, could warrant closer scrutiny. The association pointed to the Shield and First Guardian collapses as examples of the consumer harm enhanced oversight should seek to prevent. It also highlighted high social media ...

Trustees drop the ball on advice fee oversight

MATTHEW WAI  |  THURSDAY, 22 OCT 2026
... advice fee deductions has always been in place but was only emphasised from the recent collapses of the Shield and First Guardian Master Funds. Ronchi said the advice fee reduction aspect falls into one of the many priorities trustees are handling currently ...

Corporate, governance issues fuel whistleblower tipoffs: ASIC

KARREN VERGARA  |  TUESDAY, 20 OCT 2026
... whistleblower. Elsewhere in ASIC's annual report, only $421 million have been repaid to victims of the Shield and First Guardian collapses out of a total of $1.1 billion. Only Macquarie and Netwealth have made their clients whole following court enforceable ...

ASIC stalls Sequoia bid to ditch cross guarantee deed

KARREN VERGARA  |  MONDAY, 19 OCT 2026
... questions and requesting more information before the group rids itself of all liabilities arising from the Shield and First Guardian disaster. Providing an update to the ASX this morning, Sequoia said it "will cooperate with ASIC and answer all of its ...

Netwealth reports record $36bn FUM in Q1

MATTHEW WAI  |  THURSDAY, 15 OCT 2026
... against its subsidiaries Netwealth Investments and Netwealth Superannuation Services in relation to investments in First Guardian Master Fund, which follows another class action against Macquarie Investment Management on a similar basis. The company ...

FEATURE | Governance | Stumping up

RIDDHIMA TALWANI  |  WEDNESDAY, 14 OCT 2026
... Vincent Plant, testified before last month's parliamentary committee inquiry into the collapse of the Shield and First Guardian master funds. The two funds were marketed as high-returning alternatives to mainstream super. They collapsed in 2024 ...

'Flawed' CSLR model needs to be redesigned: SMC

MATTHEW WAI  |  WEDNESDAY, 14 OCT 2026
... Tier 1 and Tier 2 contributions shrink, the gap is spread across trustees that "had no part" in the collapses of First Guardian and Shield Master Funds. SMC added the government has also failed to address a viability assessment or any evidence supporting ...

FAAA says super trustees should stump up for CSLR

RIDDHIMA TALWANI  |  THURSDAY, 8 OCT 2026
... zero." FAAA also recommended Treasury reassess superannuation trustees as connected to the failures of Shield and First Guardian and be allocated to pay the CSLR. "The exclusion of superannuation trustees in relation to Shield and First Guardian is difficult ...

ASIC sues another former Venture Egg adviser

VINNY VUCAGO  |  WEDNESDAY, 7 OCT 2026
... remuneration laws and provided unsuitable advice that directed hundreds of clients' superannuation into the collapsed First Guardian Master Fund. Saad was an authorised representative of Interprac Financial Planning between 17 June 2016 and 31 December ...
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