at the end of last week – $1bn scandal: How an entire financial planning industry looked the other way while Shield and First Guardian thrived. Published on ifa here, Abood rightfully points out that there is an incredibly small number of Australian...
investors are likely to be hit hard by the collapse of two different, but related financial products – the Shield and First Guardian Master Funds. Together, the potential impact could be as much as $1 billion in losses. An article published in The...
The directors of First Guardian Master Fund’s responsible entity, Falcon Capital, insisted its investments are fully recoverable; however, FTI Consulting has flagged behaviour that is commonly seen in Ponzi schemes. Sometimes it’s hard to decide which...
to be,” he said. “Things like Brite at the moment is in our ‘massive’ watch list, the impact of Shield Master Fund and First Guardian are also in that watch list. With Venture Egg now coming along with all other firms on our potential watch list, we’ll...
sales tactics that urge super switching, which has been a key feature of its investigations into both Shield and the First Guardian Master Fund. Despite ASIC taking significant action in these cases – everything from asset freezes and travel bans to...
“Further, and most importantly, these numbers do not include any allowance for the impact of either Shield or First Guardian, although numerous announcements by ASIC suggest these are very substantial matters where financial advice complaints are...
their platforms. Financial advisers involved in funnelling client funds into Falcon Capital managed investment scheme First Guardian Master Fund and Keystone Asset Management’s Shield Master Fund are far from the only target of the Australian Securities...
sales tactics that urge super switching, while signalling that bans were imminent for advisers connected to Shield and First Guardian. ASIC hit the ground running to kick off the new financial year, having already announced the cancellation of two...
Securities and Investments Commission (ASIC) has announced that Falcon Capital Limited – the responsible entity for the First Guardian Master Fund – directors David Anderson and Simon Selimaj are now prohibited from leaving or attempting to leave...
two matters, which have achieved a lot of media coverage in the last six to 12 months, are Shield Master Fund and First Guardian Master Fund,” Anderson said last week. “There are striking similarities between these two new matters, both involving the...
While it initially seemed as though the Shield and First Guardian failures may not hit the advice profession too hard, the FAAA’s Phil Anderson said that as more information comes to light, the more concerned advisers should be. The impact of Dixon...
officially exited the FAR, ASIC announced it has cancelled the licence of an AFS licensee caught up in the Shield and First Guardian collapses. The Australian Securities and Investments Commission (ASIC) has cancelled the Australian Financial Services...
told ifa that he could not “provide any additional information at this point in time”, he noted that the Shield and First Guardian situation was “an extremely complex matter”. According to Merhi’s previous media comments, Venture Egg has about 5,000...
millions. There are additional “dark clouds” on the horizon, including a potential exposure to Shield Master Trust and First Guardian Master Fund of $440 million through a single advice firm. According to Johnston, the advice profession is “doomed in...
With a potential exposure of $440 million through a single advice firm, the fallout from the Shield Master Trust and First Guardian Master Fund could have a devastating impact on financial advisers. Appearing on a webinar with law firm Holley...
Court appointed Ross Blakeley and Paul Harlond of FTI Consulting as liquidators, ordering them to wind up the firm, the First Guardian Master Fund and a number of related unregistered subsidiary funds. In March, ASIC applied to the Federal Court for the...
in connection with its investigations concerning certain managed investment schemes, including Shield Master Trust and First Guardian Master Fund. Merhi controls Venture Egg, and both he and Venture Egg are authorised representatives of Interprac...
to make up the bulk of the next levy period at an estimated $44.57 million, while the ongoing Shield Master Fund and First Guardian collapses have the potential to be far more damaging. At this stage, there is no guarantee that the fallout from either...
and the payment for those services”, in connection with its investigations into the Shield Master Fund and the First Guardian Master Fund. While the Shield Master Fund was not a private credit structure, its failure may have spooked SQM, which had...
The Federal Court has frozen the assets of a man linked to Shield and First Guardian lead generation services. Following an Australian Securities and Investments Commission (ASIC) application, the Federal Court has made orders freezing the assets of...
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