• Equity Trustees is trustee of the NQ Super and Super Simplifier superannuation product platforms, which facilitate superannuation investments.
• Equity Trustees does not provide personal financial advice in this role. Financial advisors, chosen and appointed by you, use the NQ Super and Super Simplifier platforms to invest your superannuation monies into a range of products that, until December 2023, included Shield. Those investments are made in accordance with a financial plan agreed between you and your adviser.
• Equity Trustees has had no role in the management of Shield, an accessible investment that was available as a product option on the NQ Super and Super Simplifier platforms until December 2023.
• In late 2023, Equity Trustees became concerned about the compliance of financial advice (including advice about Shield) being provided by certain financial advisers with the requirements of the Corporations Act and relevant industry standards. These advisers were recommending investments in Shield.
• Equity Trustees reported the concerns to ASIC, and subsequently refused all new applications from these advisers from December 2023.