Financial Services Regulation
Asia-Pacific Guide 2024 : Australia
Band 1
Email address
[email protected]Contact number
+61 2 9230 4000About
Provided by Allens
Allens' Financial Services Regulation (FSR) practice have a full service practice covering all needs for clients including ACL/AFSL licensing, product design and distribution, compliance with the National Consumer Credit Protection Act, ISDA agreements and compliance. The team brings together experts from a range of practices within the firm - banking, regulatory investigations and dispute resolution, technology, competition, tax, funds management, insurance and superannuation. Allens have a strong understanding of the regulatory environment that financial services institutions operate and this is reinforced by industry involvement. Allens is a member and active participant of the Australian Banking Association, Australian Finance Industry Association and the Financial Services Council. The team has developed close relationships with policy directors of these associations and contributes to industry submissions on regulatory reform. Allens liaise with financial service regulators on compliance issues on behalf of clients, as well as advise on governance and board-level issues that take account of the FSR landscape. The FSR team understand the way that the regulators operate and work with clients to navigate the complex regulatory landscape. The Allens team works closely with the market-leading Linklaters financial services regulatory practice, this connection enables Allens to assist clients with the cross-border application of risk management and compliance approaches.
Chambers Review
Allens is regularly sought out by major banks, wealth managers and other financial institutions for advice on a range of regulatory matters in connection with superannuation and investment funds. The team frequently provides advice on regulatory compliance and the structural and governance changes required as a result of significant mergers and acquisitions in the financial services industry. The firm additionally provides back-end assistance to clients facing regulatory investigations.
Work Highlights
- Allens represented Westpac in ASIC civil penalty proceedings alleging insider trading, unconscionable conduct and AFSL breaches concerning its involvement in the part-privatisation of Ausgrid in 2016.
Strengths
Provided by Chambers
"Allens is the clear industry leader in this space. They have the most experience, including on the highest-profile and most complex matters."
"The team deftly and sensitively handle matters that require balancing of complex factual, legal, commercial and regulatory issues."
"Allens is the clear industry leader in this space. They have the most experience, including on the highest-profile and most complex matters."
"The team deftly and sensitively handle matters that require balancing of complex factual, legal, commercial and regulatory issues."
Notable Practitioners
Michelle Levy is a highly experienced figure in the market who often assists clients on regulatory issues relating to superannuation funds.
"She's a very prominent name - very well regarded in the regulatory sense."
Peter Haig is a well-regarded litigator with a growing reputation for advising clients on AUSTRAC investigations and compliance with anti-money laundering and counter-terrorism financing regulations.
"He has all the skills of a great law firm partner. He's unbelievably responsive and stays very close to matters."