• In late 2023, Equity Trustees became concerned about the compliance of financial advice (including advice about Shield) being provided by certain financial advisers with the requirements of the Corporations Act and relevant industry standards. These advisers were recommending investments in Shield.
• Equity Trustees reported the concerns to ASIC, and subsequently refused all new applications from these advisers from December 2023.
• Equity Trustees is working closely with ASIC and the Deloitte Administrators and fully supports their investigations and steps taken by the regulator and Administrators to protect your investment in Shield.
• Equity Trustees will notify you about any material updates with regards to Shield that is related to your Super and Pension account with NQ Super or Super Simplifier.