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ASIC takes three new actions on Shield and First Guardian Funds collapses

Man standing in front of trading screen showing red numbers.
Photo: Cameron Spencer/Getty Images

Martina Lindberg

7 min read
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The actions feature new civil penalty proceedings, and seek leave to start proceedings against both companies and an individual.

On November 13, ASIC announced another three actions in its efforts to hold those responsible to account for the collapse of the Shield and First Guardian Master Funds. The actions are being taken against Interprac, SQM Research, and MWL Financial Services, former director Nicholas Maikousis, and Imperial Capital Group Australia.

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