On 18 June 2024, the Australian Securities and Investments Commission (ASIC) commenced a proceeding in the Federal Court of Australia (Court) against Keystone. On 26 June 2024, the Court made certain orders restraining the Shield Master Fund, which affect new contributions, withdrawals, rollovers and redemptions. These orders remain in operation until amended by the Court.

The Court also made orders appointing Deloitte Financial Advisory Pty Ltd (Deloitte) to supervise transactions entered into by Keystone, as well as to prepare a report on the financial position of the Shield Master Fund.

As a result, the suspension of redemptions from the Shield Master Fund remains in operation and will continue to do so until further notice.