{"id":79852,"date":"2025-10-23T15:31:00","date_gmt":"2025-10-23T04:31:00","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=79852"},"modified":"2025-10-28T10:35:45","modified_gmt":"2025-10-27T23:35:45","slug":"former-ugc-and-mwl-financial-adviser-banned","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2025\/10\/23\/former-ugc-and-mwl-financial-adviser-banned\/","title":{"rendered":"Former UGC and MWL Financial Adviser Banned"},"content":{"rendered":"<p>ASIC has placed a seven-year ban on financial adviser <strong>Jovan Videkanic<\/strong>, preventing him from providing financial services, managing a financial services business, or being involved in its operations.<\/p>\n<p>The regulator claims Melbourne-based Videkanic gave advice to clients &#8220;which was not in their best interests&#8221; between July 2020 and February 2024.<\/p>\n<p>He is alleged to have recommended clients invest most of their superannuation into the Shield Master Fund &#8220;&#8230;which were high risk investments&#8221; when he was authorised by United Global Capital.<\/p>\n<p>ASIC is conducting multiple investigations into conduct connected to the Shield Master Fund \u2013 the firm collapsed in June 2025.<\/p>\n<p>ASIC also found that Videkanic\u2019s statements of advice to certain clients contained false and misleading statements, &#8220;implying they would enjoy better returns by investing their superannuation into Shield&#8221;. At the time he was authorised by MWL Financial Services and sat on its investment committee.<\/p>\n<p>ASIC states it has reason to believe Videkanic is not a fit and proper person, is not competent, and is likely to contravene a financial services law. The banning order took effect from 25 August 2025.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ASIC has placed a seven-year ban on financial adviser Jovan Videkanic, preventing him from providing financial services, managing a financial services business, or being involved in its operations. The regulator claims Melbourne-based Videkanic gave advice to clients &#8220;which was not in their best interests&#8221; between July 2020 and February 2024. He is alleged to have [&hellip;]<\/p>\n","protected":false},"author":23,"featured_media":79859,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,5622],"tags":[],"class_list":["post-79852","post","type-post","status-publish","format-standard","has-post-thumbnail","category-compliance-regulation","category-superannuation"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/79852","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=79852"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/79852\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/79859"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=79852"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=79852"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=79852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}