<strong>Period of Effect:</strong> 10/11/2023 to 10/11/2025<br/><strong>Reason:</strong> 30-20 Order[POPUP_FOR_DETAILS]<br/><strong>Code breach(es):</strong> <ul><li>30-10(7) - You must ensure that a tax agent service that you provide, or that is provided on your behalf, is provided competently</li></ul><br/><strong>Explanation:</strong> On 24 October 2023, after completing an investigation, the Tax Practitioners Board (TPB) determined that SuperGuardian Pty Ltd (the Company) had breached subsection 30-10(7) of the Code of Professional Conduct (the Code) in the Tax Agent Services Act 2009 (TASA). The TPB found that the Company had failed to provide an adequate level of supervision and control of employee, Jason Poser, which allowed him to misappropriate more than $2.9 million from 86 self-managed superannuation fund clients in 100 transactions between October 2019 and August 2022.<br><br>The TPB noted that the Company had taken numerous corrective actions to mitigate the damage done by Mr Poser and that all affected clients had been fully reimbursed. The TPB also noted that these events have taken a heavy toll on the Company.<br><br>Taking into account all of the circumstances, the TPB decided to impose on the Company an order under s 30-20 of the TASA requiring it to::<br>1. continue to review and update policies and procedures to ensure they are fit for purpose and reduce the risk of similar incidents occurring again.<br>2. provide appropriate training to staff on compliance with the Code, the Company’s code of conduct and whistleblowing policies and any other relevant policies every six months.<br>3. provide a compliance statement to the TPB every six months for the next two years, confirming it has complied with the above requirements and providing the details of training provided and the names of the staff who were trained.<br>