Service

Financial Services

Summary

Financial services is a highly technical area of law where the legal and reputational consequences of getting it wrong can be significant. What’s more, customer and regulator expectations are increasing, so the need for expert advice is growing. That’s why we have a team of dedicated financial services lawyers who are genuine experts in the field – and independently recognised for it.

Our clients include well-known names in the financial services sector. We work with clients right across the financial services industry, and with clients in other sectors on financial services matters. Because we understand the industry dynamics, we can provide tailored, practical advice and solutions that actually work.

Key services

Funds management and managed investment schemes

Assisting with the establishment and offering of investment funds (including KiwiSaver) and other managed investment schemes (including property syndicates), providing advice to fund managers on licensing, compliance and dealings with regulators, and support with ongoing fund management matters. We also assist supervisors on their own business, and on their supervisory activities.

Regulatory compliance and licensing

Advising clients on the regulatory framework, licensing issues and compliance with relevant laws, including the Financial Markets Conduct Act 2013, the Anti-Money Laundering and Countering Financing of Terrorism Act 2009, and the Financial Service Providers (Registration and Dispute Resolution) Act 2008. We also help overseas financial service providers access the New Zealand market and advise clients across the sector on general financial services regulations, including Australian-based issuers.

Regulatory investigations and enforcement

Assisting clients in their dealings with the Financial Markets Authority, Reserve Bank of New Zealand, and Commerce Commission, including formal regulatory investigations and enforcement actions, advising on their rights and obligations, the best strategies to mitigate the impact of enforcement actions, and the potential outcomes and consequences. Negotiating with regulators or other parties to achieve favourable settlements or resolutions.

Capital markets and mergers and acquisitions (M&A)

Working with issuers and supervisors on debt and equity capital market transactions of all sizes. We also assist industry participants and their shareholders with governance, business structuring, and M&A activity.

Financial advice and distribution

Assisting financial advisers and financial services businesses with distribution models and the regulation of financial advice.

Contemporary issues

We also help clients with contemporary issues such as conduct and culture, climate-related disclosures, and the legal and risk implications of climate change.

Insurers

Advising insurers on policy drafting and interpretation, marketing, claims, and licensing matters.

Key people

Work Highlights

Advising Silverfin Capital on the establishment and offering of more than 20 wholesale and retail property investment structures.
Advising Sustainable Property Management Limited the restructure of its limited partnership into a conventional wholesale property fund, to provide a more tax-effective and operationally efficient structure.
Advising Midlands Funds Management Limited on its fund restructure, involving the transition of a GIF to a PIE structure.
Advising First Credit Union Incorporated on development of a capital note facility available to Credit Union Auckland to ensure it continued to meet regulatory capital requirements, and then on the subsequent takeover of Credit Union Auckland by First Credit Union.
Acting for AIA New Zealand, First Credit Union, and several smaller insurers and deposit takers on their conduct licensing projects, including advising on a number of complex issues.
Acting for AIA New Zealand, Bettersaver, and several other clients on their financial advice licensing projects.
Advising on the establishment by FBAA, Australia's leading association representing mortgage brokers, of a New Zealand branch (known as the Finance and Mortgage Adviser Association of New Zealand).
Advising several confidential clients on significantly regulatory investigations, including High Court proceedings, involving the Financial Markets Authority and the Commerce Commission.