Regulatory Alerts2025-10-27
ASIC secures interim court orders barring Ferras Merhi from financial services activities
ASIC secured Federal Court interim orders restraining Ferras Merhi from conducting any financial services activities following allegations of unconscionable conduct and defective advice involving hundreds of millions of dollars. The Court appointed a receiver to identify Merhi's assets and a provisional liquidator for his advisory entities to report on their solvency and suspected misconduct within specified timeframes. These measures are part of ongoing investigations into the collapse of the Shield Master Fund and First Guardian Master Fund, which have left thousands of clients' superannuation at risk.
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