Notice of Disqualification – Marissa Juergens - 3 December 2025

Overview

The Superannuation Industry (Supervision) Act 1993 (SISA) was enacted to address the need for robust regulation and oversight within Australia's superannuation industry, ensuring that superannuation funds are managed with integrity and in the best interests of members. The Act was introduced by the Commonwealth Parliament to provide a framework for the supervision and regulation of superannuation entities and to protect the interests of superannuation fund members. One of the key policy objectives of the SISA is to maintain the financial health and stability of superannuation funds by ensuring that those responsible for their management are fit and proper persons. The Act empowers the Commissioner of Taxation to disqualify individuals who are deemed unfit to manage these funds, as illustrated in the case of Marissa Juergens, who has been disqualified under subsection 126A(2) and 126A(3) of the SISA due to repeated contraventions of the Act and a determination that she is not a fit and proper person to hold such a role.

Scope and Application

The Superannuation Industry (Supervision) Act 1993 (SISA) applies to trustees, responsible officers, and other persons involved in the management and administration of superannuation entities within Australia. The Act encompasses various types of entities, including corporate trustees and self-managed superannuation funds (SMSFs), and it governs their conduct and transactions to ensure compliance with legislative standards. The Act applies across the Commonwealth of Australia, and its provisions are enforced by the Australian Taxation Office. Notably, the SISA includes specific exclusions and exemptions, such as those for certain types of industry super funds, which are overseen by different regulations. Additionally, the Act allows for its scope to be extended or restricted through subordinate instruments, which can provide further clarification or specific rules concerning certain aspects of superannuation management. Individuals found to have contravened the Act’s provisions may face disqualification from acting as trustees or responsible officers, with significant penalties for non-compliance, including potential criminal sanctions.

Key Provisions

The notice of disqualification under subsection 126A(6) of the Superannuation Industry (Supervision) Act 1993 (SISA) informs Marissa Juergens that she has been disqualified from being a trustee or a responsible officer of a superannuation entity. This decision is made on the basis that the corporate trustee of one or more superannuation entities has contravened the SISA on one or more occasions, and Marissa was a responsible officer at the time of these contraventions. Furthermore, it is determined that Marissa is not a fit and proper person to hold such a position due to the seriousness of the contraventions. The disqualification is effective immediately from the date of the notice. Under the SISA, the Act imposes several obligations and requirements on parties and entities it governs. Trustees and responsible officers must adhere to the provisions of the SISA to ensure the proper management and supervision of superannuation entities. This includes compliance with all relevant statutory and regulatory requirements, maintaining adequate records, and acting in the best interests of the superannuation members. The notice of disqualification highlights the importance of these obligations, as failure to comply can result in disqualification. Breaching the provisions of the SISA can lead to significant legal consequences. 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 as a responsible officer of such entities. The maximum penalty for committing this offence is two years imprisonment. This serves as a strong deterrent against non-compliance and underscores the seriousness with which the Act treats breaches of its provisions. Additionally, subsection 126A(5) of the SISA allows for the revocation of a disqualification, either on the initiative of the authorities or through a written application by the disqualified person. This provides a potential avenue for Marissa Juergens to seek reinstatement if she can demonstrate that she meets the fit and proper person requirements. Furthermore, section 344 of the SISA provides a mechanism for Marissa to request a reconsideration of the decision if she is dissatisfied with the outcome. Such a request must be made in writing within 21 days of receiving notice of the decision and must include the reasons for the dissatisfaction. This allows for a formal review process to address any perceived injustices in the disqualification decision.