Financial News Brief
Summary
Netwealth has reached a settlement with ASIC to compensate over 1,000 clients who lost money investing in the failed First Guardian super fund through its platform, agreeing to pay more than $100 million.
Key Points
- Major Settlement: Netwealth will pay over $100 million to clients who invested in the collapsed First Guardian super fund via its platform, with payments due by January 30.
- Admission of Fault: Netwealth admitted it failed to obtain sufficient information to understand the risks of the First Guardian fund, despite previous claims of legal compliance.
- Regulatory Pressure: The settlement increases pressure on other firms involved, Diversa and Equity Trustees, who are facing separate ASIC lawsuits over the First Guardian and Shield fund collapses.
- Broader Reforms: As part of the deal, Netwealth also agreed with APRA to improve its investment option standards and procedures. APRA imposed additional license conditions on Equity Trustees.
- Investor Impact: The collapses of First Guardian and Shield (with combined assets once at $1.2 billion) have shocked the industry, prompting regulatory reviews and calls for tougher laws.
- Limited Recovery: ASIC estimates about 40% of retail investors’ money in these failed funds will be repaid. Significant sums were also invested via other platforms (e.g., ~$300m via Diversa).
- Regulator’s Stance: ASIC cited “exceptional circumstances” for not seeking a monetary penalty from Netwealth, emphasizing the need for a speedy outcome and the company’s cooperation. It warns all super trustees of their gatekeeper role.
财经新闻简报
文章总结
Netwealth与澳大利亚证券和投资委员会（ASIC）达成协议，将向通过其平台投资于已破产的First Guardian养老基金而蒙受损失的1000多名客户支付超过1亿澳元的赔偿。
关键要点
- 重大和解：Netwealth将向通过其平台投资于已倒闭的First Guardian养老基金的客户支付超过1亿澳元，付款截止日期为1月30日。
- 承认过失：Netwealth承认其未能获取足够信息以了解First Guardian基金的风险，尽管此前曾声称遵守了所有相关法律义务。
- 监管压力：此次和解增加了对另两家相关公司Diversa和Equity Trustees的压力，它们正因First Guardian和Shield基金的倒闭面临ASIC的单独诉讼。
- 更广泛改革：作为协议的一部分，Netwealth还与澳大利亚审慎监管局（APRA）达成协议，将提高其投资选项标准和程序。APRA对Equity Trustees施加了额外的牌照条件。
- 投资者影响：First Guardian和Shield基金（合并资产曾达12亿澳元）的倒闭震动了行业，引发了监管审查和加强立法的呼声。
- 有限资金回收：ASIC估计，在这些倒闭基金中，零售投资者约40%的资金将获得偿还。另有大量资金通过其他平台投资（例如，通过Diversa投资约3亿澳元）。
- 监管机构立场：ASIC以”特殊情况”为由未对Netwealth寻求经济处罚，强调需要快速解决问题以及该公司的合作。它警告所有养老基金受托人牢记其退休储蓄”看门人”的角色。
Original Article Link: https://www.abc.net.au/news/2025-12-18/netwealth-strikes-asic-deal-to-compensate-first-guardian-losses/106156744