Netwealth to pay $100m compensation to cover First Guardian losses
Netwealth has struck a deal with the Australian Securities and Investments Commission (ASIC) to compensate more than 1,000 Australians who invested their super in First Guardian. It has also admitted to contraventions of the Corporations Act ASIC said it has commenced proceedings in the Federal Court against Netwealth Superannuation Services Pty Ltd (NSS) and Netwealth Investments Limited (NIL), as trustees of the Netwealth Superannuation Master...
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