Regulatory Alerts2026-02-05
ASIC takes further steps to support Australians impacted by First Guardian and Shield collapse
The Australian Securities and Investments Commission (ASIC) is sending further information to approximately 11,000 investors affected by the collapse of the Shield and First Guardian master funds to clarify their options for seeking compensation. This initiative includes directing consumers to the independent website takeyoursuperback.com, developed by Super Consumers Australia, which provides guidance on lodging complaints with the Australian Financial Complaints Authority (AFCA) and accessing hardship support. While nearly 50 people across ASIC continue to investigate the complex cases, around 4,000 consumers have already received approximately $421 million in payments from Macquarie and Netwealth through court enforceable undertakings.
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