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Showing 1 - 10 of 292 results for "Shield"

Advice fee spike raises super concerns: SMC

VINNY VUCAGO  |  MONDAY, 29 JUN 2026
... their super," Schubert said. SMC's submission To the federal government's consultation following the collapses of Shield and First Guardian also found the growth rate in advice fees had nearly tripled over the past two years, reinforcing the ...

ASIC calls out platform trustees: 'Clear breach of trust'

RIDDHIMA TALWANI  |  MONDAY, 29 JUN 2026
... holding limits and unusual fund flows. APRA wrote to trustees in in October last year in the wake of the First Guardian and Shield Master Fund collapses, alerting them to the need to strengthen their investment governance processes. Since then, APRA ...

ASIC sues three Keystone Asset Management directors

KARREN VERGARA  |  FRIDAY, 26 JUN 2026
... Frolov and Mark Yorston for allegedly failing their duties to safeguard superannuation members from the collapse of the Shield Master Fund. Some 5800 investors with $530 million in retirement savings were invested in Shield. Keystone, which is now in ...

APRA investigating Diversa's executive compensation

RIDDHIMA TALWANI  |  THURSDAY, 25 JUN 2026
... trusteeship business via its subsidiary Equity Trustees Superannuation Limited (ETSL), after facing continued scrutiny over the Shield and First Guardian collapses.

Equity Trustees opts out of super trustee business

RIDDHIMA TALWANI  |  MONDAY, 22 JUN 2026
... trusteeship business via its subsidiary Equity Trustees Superannuation Limited (ETSL), after facing continued scrutiny over the Shield and First Guardian collapses. Equity Trustees commenced a strategic review of its super business early this year. It ...

More aggressive than ever: ASIC defends First Guardian investigation

RIDDHIMA TALWANI  |  FRIDAY, 5 JUN 2026
... trustee as part of our investigations. It means that ASIC has now commenced proceedings against every super trustee that made Shield or First Guardian available on its platform. This work to date has resulted in the return to investors of more than $400 ...

Super funds push back on CSLR: SMC

VINNY VUCAGO  |  TUESDAY, 2 JUN 2026
... safety will stop continuous flooding of the scheme. Merely tinkering around the edges on safety will only lead to more Shield and First Guardian style collapses," Schubert said.

APRA slaps additional licence conditions on HTFS Nominees

KARREN VERGARA  |  FRIDAY, 29 MAY 2026
... legal action from ASIC, accused of not doing enough to prevent superannuation members losing millions of dollars from the Shield Master Fund's collapse. In August 2025, ASIC took Equity Trustees to court over its alleged due diligence failures concerning ...

AFCA puts InterPrac determinations on ice

KARREN VERGARA  |  FRIDAY, 29 MAY 2026
... blame has been apportioned, saying AFCA "did not adequately take account of the conduct of other parties connected with the Shield Master Fund when allocating responsibility for losses arising from the fund's collapse." AFCA said the newly announced ...

'No basis' to ban independent trustee model: Equity Trustees

ELIZA BAVIN  |  THURSDAY, 28 MAY 2026
... (REs), as well as the regulation of lead generators. It said the most critical point of failure in the value chain regarding Shield Master Fund and First Guardian Master Fund were the two responsible entities. "The misuse of scheme assets for purposes ...
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