The corporate watchdog has upped the ante in its pursuit of those involved in the $1 billion collapse of the Shield and First Guardian master funds, filing three separate lawsuits against various groups involved.

The avalanche of court actions ramps up the regulator’s pursuit of people involved in a superannuation switching scheme that paid large commissions to people who enticed more than 12,000 ordinary Australians into moving their entire retirement savings into the complex and risky funds.

Leading financial planning advisory house Interprac was one of the groups targeted by the Australian Securities and Investment Commission in its legal actions on Wednesday.

ASIC hit the group with a Federal Court claim for declarations and fines, alleging it did not properly supervise two gr

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