Sequoia can’t explain share price drop | Australian Markets

Sequoia Financial Group has reiterated that it’s cooperating with the Australian Securities and Investments Commission (ASIC) with respect to the regulator’s investigation into the Shield Master Fund and First Guardian Master fund and their accountable entities.

However, Sequoia has advised the Australian Securities Exchange (ASX) that it isn’t conscious of any info that might explain latest trading in securities.

That trading has seen the company’s share price plummet by more than 10 cents in much less than a week to be trading at 23 cents yesterday after Sequoia got here out of a trading halt. It later mounted a modest rebound.

Sequoia’s response to the ASX question mentioned that the company had no materials undisclosed info however famous that “the Company is aware of an article in The Australian dated July 25, 2025, headlined ‘Shield investor money got Sequoia’s Morrison Securities deal over the line’”.

“The company notes that The Australian’s story says it is not suggesting InterPrac or Sequoia knew the source of New Quantum’s funds at the time,” it mentioned.

“The company is cooperating with ASIC which is investigating the failure of the Shield Master Fund and First Guardian Master Fund and their responsible entities,” it mentioned noting that particulars of the investigations had been offered in an announcement to the market in April.

“The directors of SEQ confirm there is nothing further to announce at this time,” the company’s response mentioned.

Sequoia entered a trading halt simply hours after it introduced the resignation of the previous chair of the board Risk and Compliance Committee, Charles Sweeney, efficient 29 July.

Sequoia bought 80% of its stake in equities clearing business Morrison Securities to New Quantum in March, 2023, for a reported $40.5 million with later reporting noting that money from the Shield Master Fund had helped get the deal over the road.