Thousands of Australians who lost their retirement savings when investment fund Shield collapsed will be reimbursed by Macquarie, which oversaw investments in the failed superannuation scheme.

Create a free account to read this article

Login or signup to continue reading

Continue with Email

Continue with Google

Continue with Apple

Macquarie accepted fault in the debacle for failing to place Shield on a watch list for heightened monitoring, despite overseeing $321 million in investments to the fund through its wrap platform.

Around 3000 clients, who have been unable to access their funds since February 2024, will be compensated in full.

The Australian Securities and Investments Commission also commenced Federal Court proceedings against Macquarie, which has admitted it contraven

See Full Page