The corporate regulator has launched legal action to wind up financial planner Capital Guard, citing serious concerns about the firm’s handling of $17.4 million worth of investor funds.
The Australian Securities and Investments Commission (ASIC) commenced proceedings in the NSW Supreme Court on Tuesday, and said it will seek the appointment of an independent liquidator to take control of Capital Guard, investigate its affairs and recover any possible assets.
“ASIC has taken this action because it has serious concerns about…