The Australian Financial Complaints Authority has reinstated United Global Capital Pty Ltd, in liquidation, as an AFCA member until 5pm AEST on 31 March 2026 so consumers affected by the collapse of the Shield and First Guardian Master Funds can access AFCA’s dispute resolution and potential redress. United Global Capital was expelled from AFCA membership effective 31 May 2025 following its entry into liquidation and the cancellation of its Australian Financial Services Licence, but AFCA said subsequent information showed many consumers did not understand the link between the advice they received and the fund collapses, and some potentially eligible consumers were unable to lodge complaints in time. AFCA described the reinstatement as a targeted, time-bound decision under exceptional circumstances, and said it has updated the firm’s liquidator and ASIC and is working with stakeholders to support accurate and timely information for impacted consumers. Consumers who received financial advice from United Global Capital or one of its authorised representatives and have concerns must lodge a complaint with AFCA by 5pm AEST on 31 March 2026.
Australian Financial Complaints Authority 2025-09-25
Australian Financial Complaints Authority reinstates United Global Capital to membership until 31 March 2026 to allow complaints linked to the Shield and First Guardian fund collapse
The Australian Financial Complaints Authority has reinstated United Global Capital Pty Ltd as a member until 31 March 2026 to allow consumers affected by the Shield and First Guardian Master Funds collapse to access dispute resolution. This decision follows the firm's expulsion due to liquidation and aims to address consumer confusion and ensure timely complaint lodgment.