From industry-wide advice on the Australian Government Guarantee Scheme to the Commonwealth Banks $500m retail bond issue - we’re number one in industry firsts. Our dedicated team is focused on working with clients to develop solutions to their regulatory obligations, drive innovation in new product development and manage their risks through robust compliance.
In recent years, the volume and pace of change in financial services regulation has been unprecedented. The Global Financial Crisis has been a major force behind new regulation intended to address both immediate risks and longer term systemic issues. Most recently, reforms have been aimed at tightening controls on financial services organisations, markets and products. While Australia has fared relatively well compared to the US and Europe, regulatory reform is a priority in Australia, with major reforms proposed for retail banks, funds, brokers, custodians, super trustees and ratings agencies.
At the forefront of domestic and international developments, Mallesons has actively participated in the change process and has worked closely with clients, government, regulators and industry bodies to shape regulation that supports a highly competitive and robust market. This has included participating in working groups and committees, assisting clients with submissions in response to consultation papers, making our own submissions and working with clients to track, consider and prepare for the impact of new regulation.
Clients also benefit from our deep market insight, which have been formed over many years of working with leading industry bodies (Australian Securitisation Forum, Australian Bankers Association, International Swaps & Derivatives Association and Australian Financial Markets Association) and key regulators (Reserve Bank of Australia, Australian Prudential Regulatory Authority and the State and Federal Treasury).