A company accused of overseeing thousands of Australians being exposed to dodgy super funds says it will vigorously defend a lawsuit against the financial watchdog.

InterPrac is accused of failing to ensure representatives they authorised were complying with the law when they recommended 6843 clients invest around $677 million in two now-collapsed funds.

Shield Master Fund and First Guardian Master Fund were liquidated earlier in 2025 after investigators found multiple alleged examples of poor oversight and regulation by multiple firms including InterPrac.

After suspending the trading of its shares on the ASX on Wednesday, InterPrac's parent company, Sequoia Financial Group, denied breaching any of its legal obligations.

"The InterPrac board and support staff are committed to continue

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