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flag ASIC is probing 44 firms over aggressive superannuation switch tactics following provider collapses.

flag ASIC is reviewing 44 groups linked to lead generators promoting superannuation switches, following the collapse of major providers First Guardian and Shield. flag The review targets firms using aggressive or misleading tactics to encourage consumers to move super into less-regulated funds, raising concerns about consumer harm and compliance with financial laws. flag ASIC has published a non-exhaustive list of involved entities, including lead generators and advice licensees, without implying wrongdoing. flag The probe focuses on practices since July 2024, including cold-calling and high-pressure sales, and aims to ensure advice is in consumers’ best interests. flag Consumers are urged to be cautious of unsolicited offers and to consult Moneysmart for guidance.

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