Diversa looks to Praemium on First Guardian

Mike Taylor

Managing Editor and Publisher

22 June 2026

Platform business Praemium has found itself potentially tied  into the proceedings brought by the Australian Securities and Investments Commission (ASIC) against Diversa Trustees.

Praemium has informed the Australian Securities Exchange (ASX) that it, PowerWrap Limited and One Vue Wealth Services have received notices of cross-claim from Diversa filed in the current proceedings brought by ASIC relating to First Guardian investments.

It said the claims seek compensation from Praemium PowerWrap and One Vue relating to the onboarding and monitoring of the First Guardian investment products by each of them, if Diversa is ordered to pay compensation in the proceeds.

The announcement said the claims had not previously been foreshadowed by Diversa and  the agreement in place with Diversa require it to undertake a dispute resolution process before commencing proceedings which has not yet been done.

It said that, accordingly, no steps will be taken in the proceeding until that process has been completed, which is expected to be undertaken over the next four weeks.

Praemium said it will review the claim and take advice and update the market in due course.

The announcement said Praemium notes that ASIC has not joined or made any claims against Praemium, PowerWrap or OneVue and the claims are made only by Diversa.