APP EXCLUSIVE: MDIs may be smart, but they aren’t simple

ASIC sues Equity Trustees for First Guardian due diligence failures

ASIC sues Equity Trustees for First Guardian due diligence failures

Equity Trustees has argued it’s a victim of the $1 billion Shield and First Guardian collapse and that the funds fraudulently passed due diligence. But ASIC’s latest court proceedings against the trustee allege it was required to investigate any fraud-related risks.

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