Notice of Disqualification – Daniela Di Bartolo - 22 July 2026

Overview

The Superannuation Industry (Supervision) Act 1993 (SISA) was enacted to address the need for robust oversight and regulation of the superannuation industry in Australia, ensuring the protection of superannuation funds and the interests of fund members. This legislation was introduced by the Australian Parliament to create a framework that governs the operation of superannuation funds, including the responsibilities of trustees, investment managers, and custodians. The primary policy objective of the SISA is to safeguard the financial integrity and responsible management of superannuation entities by imposing stringent requirements on those involved in their administration. The Act aims to prevent misconduct and mismanagement within the superannuation industry, thereby maintaining public confidence in the system. The SISA provides the Commissioner of Taxation with the authority to disqualify individuals who have acted contrary to the provisions of the Act, ensuring accountability and deterrence against potential breaches.

Scope and Application

The Superannuation Industry (Supervision) Act 1993 (SISA) applies to individuals and entities involved in the superannuation industry, including trustees, investment managers, and custodians of superannuation entities. The Act specifically targets responsible officers of corporate trustees who have been involved in contraventions of the SISA, providing grounds for their disqualification. The jurisdictional reach of the SISA is Commonwealth, impacting superannuation practices across Australia. The disqualification provisions outlined in the Act extend to prohibiting disqualified persons from acting in roles such as trustee, investment manager, or custodian of a superannuation entity, with potential criminal penalties for non-compliance. The disqualification can be revoked by the Commissioner either on their own initiative or upon a written application from the disqualified person. Additionally, the Act allows for reconsideration of the disqualification decision by the Commissioner within 21 days of receiving notice. This legislation ensures accountability and integrity within the superannuation industry by enforcing strict compliance measures.

Key Provisions

The Superannuation Industry (Supervision) Act 1993 (SISA) provides a framework for regulating the superannuation industry in Australia. Section 126A(2) of the SISA empowers a delegate of the Commissioner of Taxation to disqualify an individual if certain conditions are met. In this instance, Daniela Di Bartolo has been disqualified under subsection 126A(2) because the corporate trustee of one or more superannuation entities has contravened the SISA, and she was a responsible officer of the corporate trustee at the time of these contraventions. The seriousness of these contraventions provides sufficient grounds for her disqualification. The notice of disqualification, issued by Ben Kelly, a delegate of the Commissioner of Taxation, indicates that the disqualification is effective from the date of the notice, which is 22 July 2026. The obligations imposed by the SISA on parties such as Daniela Di Bartolo include adherence to the regulations governing superannuation entities. As a responsible officer, Daniela was expected to ensure compliance with the SISA. The contraventions that led to her disqualification suggest a failure to uphold these obligations, which can have significant repercussions for the entities she was associated with. The Act requires responsible officers to maintain high standards of conduct and governance to protect the interests of superannuation fund members. Under section 126K of the SISA, it is an offence for a disqualified person to act as a trustee, investment manager, or custodian of a superannuation entity, or to be a responsible officer or part of a body corporate that holds such roles. The seriousness of this offence is underscored by the potential penalty of up to two years in jail, as specified in the notice. This penalty reflects the gravity of the contraventions and the need to deter future misconduct. Furthermore, the disqualification may be revoked either by the delegate on their own initiative or following a written application by Daniela. This provision allows for the possibility of reinstatement if the grounds for disqualification are subsequently resolved. For Daniela, the notice of disqualification provides an opportunity to seek reconsideration of the decision under section 344 of the SISA. If she is not satisfied with the decision, she can request the Commissioner to reconsider it in writing within 21 days of receiving the notice. This request must detail the reasons why she believes the decision is wrong, offering a formal avenue for appeal. Additionally, the details of the disqualification will be published as a Notifiable Instrument in the Federal Register of Legislation, as per subsection 126A(7) of the SISA. This public disclosure serves to inform relevant parties of the disqualification and the reasons behind it.