Regulatory Alerts2025-07-24
ASIC bans two former MWL Financial Services advisers for inappropriate Shield Master Fund advice
The Australian Securities and Investments Commission has banned former MWL Financial Services advisers Rocco D’Amelio and Robert Crossing for providing inappropriate, high-risk investment advice regarding the Shield Master Fund. ASIC determined that the advisers were not fit and proper persons because they gave misleading statements about the fund's performance and failed to act in their clients' best interests. The document also outlines the broader ASIC investigation into the Shield Master Fund scheme and advises affected clients to lodge complaints with the Australian Financial Complaints Authority.
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