Notice of Disqualification – Kasey Rivett - 29 June 2026

Overview

The Superannuation Industry (Supervision) Act 1993 (SISA) was enacted by the Commonwealth Parliament to address issues within the administration and oversight of superannuation entities in Australia. The legislation was introduced to ensure that trustees, investment managers, and custodians of superannuation entities operate with the highest standards of integrity and compliance, thereby protecting the interests of superannuation fund members. One of the key policy objectives of the SISA is to maintain the confidence of the public in the superannuation industry by enforcing stringent regulatory measures and providing mechanisms for the oversight and enforcement of compliance within the industry. This includes the power to disqualify responsible officers who are found to have contravened the provisions of the Act, ensuring that those who fail to uphold the required standards are held accountable for their actions.

Scope and Application

The Superannuation Industry (Supervision) Act 1993 (SISA) applies to individuals and corporate trustees involved in the administration of superannuation entities within Australia. The act encompasses a broad range of entities and persons, including trustees, responsible officers, and bodies corporate that act as trustees, investment managers, or custodians of superannuation entities. Its application extends nationally, covering the entire Commonwealth of Australia. The act is designed to ensure compliance with stringent regulatory standards in the superannuation industry. Specifically, it targets conduct and transactions that may contravene the provisions of the act, with a focus on preventing and penalising significant breaches that could impact superannuation fund members. The act includes provisions for disqualification of individuals who have acted in a manner that justifies such action, as evidenced in the notice of disqualification issued to Kasey Rivett. The geographic reach of the act is nationwide, ensuring consistent enforcement of superannuation regulations across all states and territories. While the act applies broadly, it does not specify exclusions, exemptions, or thresholds within the notice itself, although these may be detailed in subordinate instruments or other sections of the act. The disqualification of Kasey Rivett under the act underscores the serious consequences for non-compliance, including potential criminal penalties and the prohibition from acting in certain roles within superannuation entities.

Key Provisions

The Superannuation Industry (Supervision) Act 1993 (SISA) contains several operative sections relevant to the notice of disqualification issued to Kasey Rivett. Under subsection 126A(6), a delegate of the Commissioner of Taxation can disqualify a person from being involved in superannuation entities if certain criteria are met. In Kasey Rivett's case, the notice states that they have been disqualified because they were a responsible officer of a corporate trustee that contravened the SISA on multiple occasions, which provided sufficient grounds for disqualification. This disqualification took effect on the date the notice was issued. The Act imposes several obligations on the parties and entities it governs. For instance, responsible officers of corporate trustees must ensure that the entities they represent comply with the SISA. Failure to do so can result in personal disqualification, as seen in Kasey Rivett's case. Additionally, section 126K imposes a significant obligation on disqualified persons, prohibiting them from acting as trustees, investment managers, or custodians of superannuation entities, or being associated with such roles through responsible officer positions or corporate trusteeships. In terms of consequences for breach, section 126K outlines that it is an offence for a disqualified person to act in any of the prohibited capacities. The maximum penalty for committing this offence is two years imprisonment. This penalty underscores the seriousness with which the Act treats breaches of its provisions. Furthermore, the disqualification notice informs Kasey Rivett that the details of this disqualification will be published as a Notifiable Instrument in the Federal Register of Legislation, adding a layer of public accountability. Lastly, the Act provides mechanisms for challenging the disqualification decision. Under section 344, Kasey Rivett has the right to request the Commissioner to reconsider the decision if they are not satisfied with it. This request must be made in writing within 21 days of receiving the notice and must specify the reasons why the decision is considered incorrect. Additionally, under subsection 126A(5), the disqualification can be revoked either on the initiative of the Commissioner or upon a written application by Kasey Rivett, providing a potential path for reinstatement under certain conditions.