Notice of Disqualification – Roberto Bezerra - 7 October 2025

Overview

The Superannuation Industry (Supervision) Act 1993 (SISA) was enacted to regulate the superannuation industry, ensuring that it operates efficiently and in the best interests of superannuation fund members. This Act was introduced to address the need for oversight and regulation of the superannuation industry, which had been growing rapidly and required a structured framework to maintain integrity and protect participants. Enacted by the Commonwealth Parliament, the policy objective of the SISA is to provide a robust framework for the supervision of superannuation entities, including trustees, investment managers, and custodians, to safeguard the financial interests of fund members. The Act includes provisions for the disqualification of individuals who engage in serious misconduct, ensuring that those who breach the standards set forth are appropriately sanctioned to maintain the integrity of the superannuation system. In the case of Roberto Bezerra, the notice of disqualification under subsection 126A(6) of the SISA was issued by Ben Kelly, a delegate of the Commissioner of Taxation, citing multiple contraventions of the Act that warranted disqualification. The disqualification aims to prevent Bezerra from acting as a trustee, investment manager, or custodian of a superannuation entity, as per section 126K of the SISA, with the potential penalty for contravening this disqualification being two years imprisonment. The notice also provides pathways for revocation of the disqualification and reconsideration of the decision if Bezerra is dissatisfied with the outcome.

Scope and Application

The Superannuation Industry (Supervision) Act 1993 (SISA) applies to individuals and entities involved in the management and administration of superannuation funds in Australia. This includes trustees, investment managers, custodians, and responsible officers of superannuation entities. The jurisdictional reach of the Act is national, with its provisions extending to all superannuation funds and related activities within Australia, overseen by the Commonwealth. The Act aims to ensure the proper management of superannuation funds by disqualifying individuals who have contravened its provisions, as evidenced in the case of Roberto Bezerra. The disqualification can be initiated by a delegate of the Commissioner of Taxation, and once imposed, it prohibits the disqualified individual from acting as a trustee, investment manager, or custodian of a superannuation entity, or being a responsible officer of such an entity. The seriousness of the contraventions must warrant such a measure, as outlined in the notice given to Mr. Bezerra. Additionally, any disqualified person who knowingly acts in contravention of the Act commits an offence and may face penalties, including imprisonment for up to two years. The Commissioner may also revoke the disqualification under certain conditions, either on their own initiative or following a written application from the disqualified person. Furthermore, the decision to disqualify can be subject to reconsideration by the Commissioner if the affected party lodges a written request within 21 days of receiving the notice, providing reasons for the dissatisfaction with the decision.

Key Provisions

The main operative sections of the Superannuation Industry (Supervision) Act 1993 (SISA) in this context are sections 126A(1), 126A(6), and 126A(7). Section 126A(1) empowers the delegate of the Commissioner of Taxation to disqualify an individual from being involved in the superannuation industry if there is a contravention of the Act. Section 126A(6) mandates the issuance of a formal notice to the disqualified individual, which is evidenced in the notice to Roberto Bezerra. Section 126A(7) requires the publication of the disqualification details as a Notifiable Instrument in the Federal Register of Legislation, ensuring transparency and public disclosure of such actions. The obligations and requirements imposed by the Act on individuals such as Roberto Bezerra include adherence to the stipulations and regulations outlined in the SISA. As a disqualified person, Roberto is legally prohibited from acting or being involved in any capacity such as a trustee, investment manager, custodian, or responsible officer of a superannuation entity. This prohibition is crucial to maintain the integrity and compliance of the superannuation industry, safeguarding the interests of superannuation fund members. The Act also delineates specific offences and potential penalties for breaches. Under section 126K of the SISA, it is an offence for a disqualified person who is aware of their disqualification to continue to be, or act as, a trustee, investment manager, custodian, or responsible officer of a superannuation entity. The severity of this offence is underscored by the potential penalty of up to two years imprisonment, highlighting the seriousness with which the Act treats such contraventions. This legal framework aims to deter disqualified individuals from re-engaging in the superannuation industry, thereby protecting stakeholders and maintaining regulatory compliance.