Examples of regulatory work that we have undertaken includes the following.
Financial services regulation
We have significant expertise in the regulation of both wholesale and retail financial services. This includes advising on the licensing, conduct and disclosure obligations under Chapter 7 of the Corporations Act 2001 and related product development and commercial arrangements.
We also advise a broad range of authorised deposit - taking (ADI) Institutions and non-ADI lenders on obligations under the Consumer Credit Code and related legislation. We are actively involved in advising on the proposed Commonwealth consumer credit legislation as well as the regulation of margin lending products.
We have also advised on the new access regime of the ATM system which was recently introduced by the RBA.
Our strong focus on Plain English legal drafting is a great benefit when developing product terms and disclosure documents and the related marketing materials.
We also have extensive experience in liaising with relevant State and Commonwealth regulators in relation to enquires affecting financial services clients.
______________________________________________________________________________
Privacy
We advise on financial sector compliance with Privacy and Marketing Laws and the proposed reforms to Commonwealth privacy laws. We also have deep knowledge at the industry codes of conduct that must be complied with in consumer dealings.
______________________________________________________________________________
Anti-money laundering
We have an extensive practice advising on Australian anti-money laundering reforms, with a broad range of local and international experience. Our client base includes clients with Australia as their home jurisdiction and foreign based entities with Australian operations.
Our anti-money laundering practice covers major banking organisations, foreign banks, non-bank lenders, property development entities and securities issuers.
______________________________________________________________________________
Banking system regulation
We have advised on a significant number of applications for authorisation as an ADI and approvals for foreign banks to establish representative offices and branches under the Banking Act. This work has included advising on applications for authorisation as a “Specialised Credit Card Institution” (SCCI) under the SCCI rules applying to credit card issuers and acquirers.
We have been actively involved in advising on the implications of the recently introduced Australian Government guarantee arrangements for deposits and wholesale funding of eligible ADIs.
We have a deep understanding of the many complex aspects of the relevant rules and a unique understanding of the approach taken by the relevant regulators, including the Reserve Bank of Australia, the Australian Prudential Regulation Authority and the Treasury.
______________________________________________________________________________
Lead partners: Andrea Beatty, Katherine Forrest, Greg Hammond, Martin James and Ian Paterson.
“Mallesons is consistently renowned for being a frontrunner in financial services, with an exceptionally strong banking client base.”
Chambers Global Guide 2007-2008