Regulatory Alerts2026-04-08
ASIC seeks appointment of receiver to investigate proposed Interprac sale
ASIC has commenced Federal Court proceedings seeking the appointment of a receiver to investigate a proposed $50,000 sale of Interprac Financial Planning by Sequoia Wealth Group. The regulator is concerned that the transaction may adversely affect creditors, particularly regarding approximately 911 open AFCA complaints linked to the collapsed Shield and First Guardian Master Funds. If appointed, the receiver will assess whether the sale is bona fide and report on Interprac’s financial position and solvency.
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