ASIC - Shield Master Fund and Venture Egg matters

Question

Please refer to the 29 May 2026 ASIC Submission to the Parliamentary Joint Committee on Corporations and Financial Services. 1. In reference to appendix 1 of the submission May 2022 to April 2023, what is the threshold applied by ASIC for when reports alleging spurious financial conduct shift from being regarded as occasional to regular? 2. In reference to May and June 2023, were 912C directions, or any other statutory notifications, made to any other organisations in the sector who had Shield Master Fund included on their platforms at the same time? a. Were any other organisations in the sector also alerted to any concerns regarding Shield Master Fund, if not, why not? b. Had Macquarie reported any concerns regarding Shield Master Fund prior to the 912c direction being issued? c. What exactly was stated in the 912C direction sent to Macquarie? 3. According to the timeline, in November 2023 Equity Trustees Superannuation Limited (ETSL) lodged a reportable situation with ASIC in relation to Venture Egg, can you advise what exactly was reported by Equity Trustees about Venture Egg? a. Prior to the report from Equity Trustees, had any other organisation in the sector reported concerns regarding Venture Egg? b. Did ASIC commence the formal investigation into Shield Master Fund before or after this report from Equity Trustees? 4. Can ASIC please account for time between the preliminary investigation and 912C direction to Macquarie in April 2023 and the interim stop order in February 2024? 5. Does ASIC know how many people moved their money from Shield in Macquarie to Shield on other platforms during this period?

Answer

See attached response.

Documents

• Question with answer (PDF) (opens in a new tab)
• SQ26-000271 ASIC - Shield Master Fund and Venture Egg matters.pdf (opens in a new tab)