Investors are set to deliver an embarrassing strike against the board of Equity Trustees this month after two influential governance advisory firms told them to reject the company’s pay plan because of its involvement in the Shield Master Fund and First Guardian superannuation scandals.
The 137-year-old firm is being sued by the Australian Securities and Investments Commission, with the corporate watchdog alleging it did not do enough to protect consumers from the $480 million Shield collapse.
Source: https://www.afr.com/companies/financial-services/equity-trustees-braces-for-pay-strike-over-shield-first-guardian-20251015-p5n2mb