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AAP
AAP
Business
Kaaren Morrissey

BIZARRE: Super platforms warned again to protect client funds - What They Never Told You

The collapse of two super funds left almost 11,000 people $1.1 billion out of pocket. (Steven Saphore/AAP PHOTOS)

Australians setting up for retirement by investing in products on superannuation platforms are still at risk of exposure to dodgy offerings.

The warning from the corporate regulator comes in the wake of the collapse of the First Guardian and Shield funds, which exposed hard-working Australians to highly speculative, illiquid assets and outright theft.

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