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ASIC roundup: TerraCom to pay A$7.5m after whistleblower case, more Shield-related actions

Montage of the Australian arms Emu and Kangaroo emblem
GRIP Montage: ASIC/Getty Images

The Australian Securities & Investments Commission’s latest actions and news, August 25 – 29, 2025.

During week 35, ASIC took multiple actions connected to the Shield Master Fund:

  • August 29: Further actions against former financial adviser Ferras Merhi over alleged unconscionable conduct, failing to act in customers’ best interest, providing conflicted advice, and providing defective statements of advice whilst receiving millions of dollars.
  • August 28: The Australian Financial