Accountability Issues in the Shield and First Guardian Debacle
The ongoing attempts to avoid accountability by those involved in the Shield and First Guardian collapses have reached new heights of egregiousness. A recent development has shed more light on the desperation of Sequoia, as evidenced by their "urgent request" to Minister for Financial Services Dr. James Mulino to activate the Operational Risk Financial Requirement (ORFR) regime.
This move, also made to Prime Minister Anthony Albanese and Treasurer Jim Chalmers, highlights the company's grasp at straws. The fact that Sequoia chief executive Garry Crole used the correct email address of Minister Daniel Mulino is a minimal consolation, given the overall lack of attention to detail in their plea for government intervention.
The letter, as seen by ifa, outlines the series of systemic failures that led to the collapse, affecting roughly 12,000 investors. The lack of detail in their request does not bode well for Sequoia's chances of success.
The level of attention to detail in its plea for the government to take action to remediate the roughly 12,000 affected investors doesn’t bode well for its chances of success.
Authorised summary: Sequoia seeks government aid amid collapse.
More News
- Tirumala ghee adulteration: Subba Reddy PA arrested
- One-Sided Welcome: Why SDSU ignores cultural frats and sororities
- OPINION | First-years would be better off with fall recruitment • The Tulane Hullabaloo
- Omdia: Global smartphone market grows 3% in Q3 2025, led by emerging economies | AFP.com
- Despite predictions, voters support Javier Milei
- Tirumala ghee adulteration: Subba Reddy PA arrested
- Wizz Air reintroduces its “All You Can Fly” pass for unlimited travel!
- Milei has the mandate. Now he must prove that he has the maturity - Monocle