Member Conduct & Discipline

Overview of Member Conduct & Discipline

The SMSF Association is a self-regulating professional association whose members voluntarily agree to be bound by various professional, technical and ethical standards.

These standards aim to ensure that the self-managed superannuation fund (SMSF) advisory profession exercises the highest level of professionalism; providing a quality of service that is credible, up-to-date and relevant. The SMSF Association’s members can be confident that the advice they provide instils confidence in SMSF consumers, government, regulators and other stakeholders. The SMSF Association’s SMSF Specialist Advisor™ and SMSF Specialist Auditor™ accreditation is the consumer’s choice when selecting an advisor for their SMSF.

SMSF Association members are required to conduct themselves in a professional business-like manner at all times. These Conduct and Disciplinary Procedures are the expected minimum requirement for all SMSF Association members.

The Conduct and Disciplinary Procedures are designed to ensure that any complaints and disciplinary processes are handled effectively, expeditiously, and in a manner that observes the principles of natural justice and procedural fairness.

The Conduct and Disciplinary Procedures are to be read in conjunction with the Constitution, the SMSF Association Accreditation Program SMSF Specialist Auditor™ Rules and Conditions, the SMSF Association Accreditation Program SMSF Specialist Advisor™ Rules and Conditions and the SMSF Association SMSF Specialist Auditor™ Standards of Professional Conduct for SMSF Specialist Auditors™ (including By Laws).

Download the SMSF Association Code of Professional Conduct & Disciplinary Procedures

Lodging a complaint

Complaints may be made by any person and are to be made directly to the Managing Director/CEO of the SMSF Association to either of the following addresses:

PO Box 6540, Halifax Street, Adelaide, South Australia, 5000; or,
SMSF House, Level 1, 366 King William Street, Adelaide, South Australia, 5000.

The complaint must:

  • Be in writing;
  • Clearly identify the member against whom the complaint is made;
  • Clearly outline the exact nature and detail of the complaint;
  • Be accompanied with documentary evidence supporting it;
  • Show the name and address of the complainant; and
  • Be signed by the complainant.

SMSF Association Complaints Register

The following provides statistics of the nature of complaints brought against members of the SMSF Association, and actions taken against those members. The statistics are recorded on the basis of a Membership Year of 1 April to 31 March.

Nature of Complaint

The table below records the nature of complaints brought against members of the SMSF Association. The nature of complaints have been categorised into 6 categories, with the number of complaints recorded in each particular category in the relevant membership years.

 2017/20182016/20172015/2016
Criminal conviction1
Statutory offence bringing discredit to member, association or profession12
Failure to observe proper standard of professional care, skill and competence1
Breach of Association Code of Professional Conduct and Disciplinary Procedures33
Breach of Association Branding policy
Other Complaints

Action taken by the SMSF Association

The table below records the action taken by the Association against those members that have had a complaint brought against them. The action is recorded only once the Professional Standards Committee has fully investigated the complaint and determined the most appropriate course of action.

 2017/20182016/20172015/2016
Cancellation of Membership12*
Suspension of Specialist designation or Membership for a defined period31*
Reprimand23
Practice review
No action required
Other
Investigation ongoing

*A single member whose membership was initially suspended and subsequently cancelled.