ASIC financially backs Super Consumers on Shield, First Guardian

Mike Taylor

Managing Editor and Publisher

5 February 2026

The Australian Securities and Investments Commission (ASIC) has moved to prompt more investors affected by the collapse of the Shield and First Guardian funds to seek compensation via the Australian Financial Complaints Authority (AFCA).

The regulator has financially backed a new consumer web site which will launch tomorrow.

ASIC made the announcement while saying that, so far, less than 2,000 of around 11,000 Australians who invested approximately $1.1 billion in Shield and First Guardian have lodged complaints with the Australian Financial Complaints Authority (AFCA).

It said this had prompted ASIC to take further action to ensure investors understand the impact.

“From tomorrow (Friday 6 February 2026), ASIC will begin sending further information to investors, including a link to a dedicated consumer website that contains trusted and independent support, and options to make a complaint: takeyoursuperback.com.

“The new consumer website has been independently developed by Super Consumers Australia with funding from ASIC,” it said. “Super Consumers Australia is an independent consumer advocacy organisation that is helping consumers impacted by the collapse of First Guardian and Shield understand what they can do.”