Tai Nguyen

Member’s name: Tai Nguyen
Date of hearing: 26 October 2023
Division: South Australia
Tribunal: Disciplinary Tribunal

On 26 October 2023, the Disciplinary Tribunal found Mr Tai Nguyen breached:

Article 39(a)(ii)(F) of the 22 May 2018 Constitution having “been the subject of an adverse finding that has not been overturned on appeal in relation to the Member’s conduct, competence or recognition by any Court, professional body, statutory or other regulatory authority in any jurisdiction;” with respect to the Australian Security Investments Commission (ASIC) permanently banning him on 15 January 2019 from providing financial services after an ASIC investigation found that he had engaged in dishonest conduct.
 

Article 36(a) of the 11 May 2022 Constitution, when he ”committed, participated in or been involved with an Adverse Event.” as defined in Article 76(i) of the 11 May 2022 Constitution as having “pleaded guilty to, or was found guilty of (either without conviction or with a final conviction), any offence (criminal or otherwise, but excluding any offence relating to traffic infringement) before any Court in any jurisdiction, which in the Board’s reasonable opinion, is likely to have a material adverse effect on the Company’s standing or reputation;” in relation to his guilty plea in respect of two counts contrary to section 1307(1) of the Corporations Act 2001 (Cth) in the Magistrates Court of South Australia.

Mr Nguyen did not attend the Disciplinary Tribunal Hearing and a denial of the complaints was entered on his behalf.

Penalty and costs: 

The Disciplinary Tribunal found the complaints sustained and imposed the following penalties:

Forfeiture of membership, for a period of 3 years effective 26 October 2023.

A fine of $5000.

Conditions imposed by the Disciplinary Tribunal:

Prior to any application for readmission to membership Mr Nguyen must successfully complete the CPA Australia course - Making Ethical and Effective Decisions or its equivalent at the time.

If Mr Nguyen holds a Public Practice Certificate, he must complete:
a) the Public Practice Program, and
b) the CPA Australia Best Practice Program 
or their equivalent, to the satisfaction of the General Manager Professional Conduct (GMPC) within 12 months or such other time frame that the GMPC approves.

Mr Nguyen was ordered to pay a contribution to CPA Australia’s costs of $2,820.