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Sequoia Financial Group Ltd (ASX:SEQ)

ALERT: Price-sensitive ASX Announcement for SEQ
Current share price for SEQ : $0.108 -0.143 (-57%)+
Announcement
Release
13 Nov 2025 2:46PM
Price at Release
$0.250
Full Release
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Summary
Sequoia Financial Group Limited (ASX: SEQ) has announced that the Australian Securities and Investments Commission (ASIC) has initiated civil penalty proceedings against InterPrac Financial Planning Pty Ltd, a wholly-owned subsidiary of Sequoia. The proceedings relate to historical conduct by former authorized representatives who recommended investments in the Shield Master Fund and First Guardian Master Fund through approved superannuation platforms. InterPrac intends to vigorously defend these allegations, asserting compliance with its obligations under the Corporations Act. The company acknowledges the impact of the situation on clients and is committed to cooperation with ASIC and maintaining its compliance and governance standards. The allegations concern past events and do not affect Sequoia's current operations or its capacity to deliver financial services.
Key Points
  • ASIC has commenced civil penalty proceedings against InterPrac Financial Planning Pty Ltd.
  • InterPrac intends to defend the allegations vigorously.
  • The proceedings concern historical conduct involving recommendations to invest in certain funds.
  • InterPrac's representatives involved in the conduct ceased association with the company in 2025.
  • Sequoia emphasizes its commitment to compliance and governance obligations.
  • InterPrac believes it has acted in line with its obligations under the Corporations Act.
  • The proceedings relate to past events and do not affect ongoing operations.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.