Big super funds and SMSFs could pay compensation for victims of financial misconduct
Melinda Kee thought her financial ordeal was almost over. But more than 12 months since she lodged a…
Investors consider class action against super trustees after First Guardian and Shield collapses
Natasha Langby feels she has nothing left to lose. The 55-year-old says she pumped tens of thousands of…
ASIC says too many Australians’ retirement savings being wiped out
The Australian Securities and Investments Commission (ASIC) has called out platforms that manage Australians’ retirement savings for a…
Troubled InterPrac sold for $50k
Sequoia has found a buyer to offload its troubled InterPrac licensee to, collecting just $50,000 in the sale, with its…
Shield and First Guardian raise the question, who pays when super funds collapse?
Thousands of First Guardian investors were dealt another devastating blow in December when it was revealed just $1.6…
As Australia’s retirement savings grow into world’s second biggest, government to review consumer protections
Australia’s $4.3 trillion superannuation sector is on track to become the world’s second-largest retirement savings pool by 2031.…
First Guardian, Shield superannuation disasters expose deep flaws in Australia’s $4.3 trillion retirement system
Utterly broken after investing almost $370,000 of her retirement savings into the now-collapsed First Guardian Master Fund and…
Thousands of investors caught up in First Guardian, Shield collapses told super trustees may pay ‘remediation’
Thousands of investors who were exposed to heavy losses by investing their retirement savings in the First Guardian…