‘Only way to restore members’: Why Netwealth agreed to compensation
On Thursday morning, the Australian Securities and Investments Commission announced that it had secured a second compensation deal with a super fund trustee over the recent fund failures, with Netwealth agreeing to cover an estimated total of $101 million. It is the first agreement relating to First Guardian Master Fund investors, with Macquarie’s $321 million compensation package from September relating to the Shield Master Fund....
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