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Showing 1 - 10 of 305 results for "Shield"

ASIC ramps up enforcement action

VINNY VUCAGO  |  MONDAY, 10 AUG 2026
... company failures that resulted in 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 ...

Sequoia caves into InterPrac sale undertaking, ASIC withdraws proceedings

KARREN VERGARA  |  WEDNESDAY, 5 AUG 2026
... the regulator's intervention 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 ...

Chiodo in ASIC's crosshairs again

KARREN VERGARA  |  TUESDAY, 4 AUG 2026
... Management, which is in liquidation. He was also the director and co-founder of CF Capital, the investment manager of the Shield master Fund. Keystone and Chiodo have both been named as defendants in the lawsuit. Kortesis was a director of Keystone between ...

Advice complaints see biggest increase in FY26: AFCA

MATTHEW WAI  |  TUESDAY, 4 AUG 2026
... consecutive year complaints have exceeded 100,000. Investments and advice complaints increased by 56%, primarily driven by the Shield Master Fund and First Guardian collapses, while complaints alleging the failure to act in the client's best interest ...

FSC calls for tougher oversight of advice licensees

VINNY VUCAGO  |  THURSDAY, 30 JUL 2026
... framework towards ensuring it is operating as intended with effective supervision," Briggs said. He said the collapses of Shield and First Guardian highlighted weaknesses that may have been identified earlier through more proactive supervision. "The ...

Crole exits Sequoia effective immediately

KARREN VERGARA  |  WEDNESDAY, 22 JUL 2026
Garry Crole is exiting 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 ...

FEATURE | Platforms | The investment supermarket

RIDDHIMA TALWANI  |  TUESDAY, 21 JUL 2026
... investment options it puts in front of members. It's a safeguard that, ASIC says, didn't hold up in the case of the Shield and First Guardian failures. Around 11,000 Australians lost more than $1 billion dollars of their retirement savings in ...

Another MWL adviser banned over Shield collapse

RIDDHIMA TALWANI  |  THURSDAY, 16 JUL 2026
... Niu recommended her clients invest most of their superannuation into the High Growth class and the Growth class of the Shield Master Fund (Shield) which was a high-risk investment, or the Balanced class which was a medium risk investment. ASIC said her ...

Federal Court lifts Merhi's travel ban

KARREN VERGARA  |  MONDAY, 13 JUL 2026
... and 2024, clients were advised to invest some $296 million into the First Guardian Master Fund and $230 million into the Shield Master Fund. ASIC calculates Merhi's businesses allegedly received nearly $18 million in upfront advice fees and over $19 ...

FAAA urges insolvency crackdown to curb soaring CSLR costs

VINNY VUCAGO  |  THURSDAY, 9 JUL 2026
... Anderson said much of the increase had been driven by the collapse of managed investment schemes linked to Dixon Advisory, Shield and First Guardian. "Insolvency should not be an easy solution for those who have caused detriment to others," Anderson ...
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