Opposition to CSLR ‘un-Australian’: Shield, First Guardian victim-turned-advocate
A leading advocate for Shield and First Guardian victims has told a room full of major super funds and their lobbyists that any opposition to the expansion of the Compensation Scheme of Last Resort was not in the Australian spirit.
March 02, 2026
InterPrac-owner backtracks from ending cross-guarantee after ASIC pressure
Sequoia Financial Group, the owner of troubled InterPrac Financial Planning, has backtracked on plans to end its cross-guarantee between its three subsidiary licensees after pressure from ASIC.
March 02, 2026
Advice reform urged to protect Australians from scammers and fraudsters
Four major super, insurance and advice CEOs have called for advancing advice reforms, arguing it is critical for the industry to deliver appropriate advice and guidance at scale and adding capacity into the system, to prevent Australians from falling into the clutches of scammers and fraudsters.
February 27, 2026
Listed licensees see financial tailwinds despite industry disruption
The remaining ASX-listed licensees continue to be in strong financial health as demonstrated by their earnings this reporting season, despite industry disruption including stalled advice reforms and the aftermath of the Shield and First Guardian collapse.
February 27, 2026
Leaders urge punishment over new regulation in Shield, First Guardian aftermath
Leaders from across the financial advice ecosystem have used the Professional Planner Advice Policy Summit at the National Press Club in Canberra to call for stronger punishments for misconduct rather than adding to layers of regulation that were already ignored during the Shield and First Guardian collapse.
February 25, 2026
InterPrac no longer cross-guaranteed by parent company
Sequoia Financial Group has ended a cross-guarantee inside the company between its licensee subsidiaries, including the troubled InterPrac Financial Planning. The company would not confirm whether the change was being made to avoid mounting liabilities from the Shield and First Guardian collapse by phoenixing its struggling licensee.
February 25, 2026
CSLR levy on SMSFs a ‘tax’: Shadow Treasurer
New shadow Treasurer Tim Wilson has dismissed any need for the Compensation Scheme of Last Resort levy to include SMSFs, arguing that their inclusion would be an attack on the structure by a Labor government that he says is working to “inflate the interests of the industry funds”.
February 24, 2026
How former Teal MP would make advice reform a national conversation
Advocates for financial advice accessibility need to make government recognise that it is a live electoral issue if they want to see more rapid change, former Teal MP Zoe Daniel has told the Professional Planner Advice Policy Summit.
February 24, 2026
‘High priority’: Mulino ties DBFO to consumer protection
Minister for Financial Services Daniel Mulino said legislating DBFO remains “a high priority” for the Albanese government despite refusing to commit to a 2026 deadline earlier this month. Mulino told the Professional Planner Advice Policy Summit that the fallout of Shield and First Guardian means DBFO needs to be considered alongside stronger consumer protection.
February 23, 2026
ASIC will look to the courts to end InterPrac’s AFSL
ASIC will rely on the courts to decide whether InterPrac should have an AFSL as it seeks to restrain the licensee from carrying on any financial services business in the aftermath of the $1 billion Shield and First Guardian collapse.
February 23, 2026
Progressing DBFO is critical to reducing the risk of a Shield, First Guardian repeat
Progressing advice reform via the Delivering Better Financial Outcomes is critical to improving retirement standards and will help reduce the risk of a repeat of the Shield and First Guardian collapse, write The Conexus Institute’s David Bell and Geoff Warren ahead of the Professional Planner Advice Policy Summit at the National Press Club.
February 22, 2026
