Richard Batten |Partner

Richard is an acknowledged expert on the Australian financial regulatory framework and the anti-money laundering and counter terrorist financing (AML/CTF) regime. He has advised a range of clients on implementation of and compliance with the AML/CTF regime, including AMP, ANZ, Macquarie, Perpetual, Trust Company and Zurich. His industry roles have included chairing the IFSA (now FSC) Regulatory Issues Working Group for over 8 years, participating in various AML/CTF industry groups and advising the NZ Bankers' Association on Australian requirements. Richard writes regularly for industry publications, is responsible for Minter Ellison's Integrated AML publication and has made submissions to Government and appeared before Parliamentary inquiries on AML/CTF.

Richard specialises in the requirements of the Australian credit and financial services licensing regimes and leads Minter Ellison's national credit reform practice. He has been actively involved in the development of the new consumer credit licensing regime through industry associations and made a number of submissions on Government proposals throughout the consultation process. Richard's experience includes advising on the disclosure and responsible lending obligations of the National Consumer Protection Act and the requirements of the National Credit Code. He is also the co-author of CCH's Understanding Australian Consumer Credit Law.

Richard specialises in the requirements of the Australian credit and financial services licensing regimes and leads Minter Ellison's national credit reform practice. He has been actively involved in the development of the new consumer credit licensing regime through industry associations and made a number of submissions on Government proposals throughout the consultation process. Richard has been involved in and advised on the credit licensing projects for a number of major institutions and smaller players, including Suncorp Metway, Perpetual and BMW Finance. He is also the co-author of CCH's Understanding Australian Consumer Credit Law.

Richard has had extensive experience in advising on the establishment, management, acquisition and disposal of financial planning businesses. His experience covers alternate adviser models and remuneration arrangements and relationships with product issuers. Richard has also been actively involved in developing industry responses to regulatory and commercial developments affecting distribution businesses. Specific project experience includes FSR and credit licensing implementation and compliance and drafting and reviewing commercial arrangements. He has advised on a number of transactions, including the acquisition of Quadrant Securities by Genesys and regulatory arrangements relating to the establishment of AMP Private Wealth Management.

Richard specialises in Australian financial services regulation (FSR) and has particular expertise in the FSR licensing regime. He assisted a number of major institutions transition to the FSR licensing regime, including AMP, American Express, Deutsche Bank, IAG, Suncorp and Westpac. Richard has continued to assist clients to obtain and vary Australian financial service licences and by advising on licensing obligations. He is responsible for lodging a number of licence applications and variations each year and assisting other clients to take advantage of licensing exemptions, both new entrants and overseas institutions.

Richard specialises in the regulation and distribution of financial services and products. He is an acknowledged expert on financial services regulation and anti-money laundering and author of leading publications such as Integrated FSR, Integrated AML and Understanding Australian Consumer Credit Law and editor of the LexisNexis Financial Services Commentary. Richard has undertaken significant projects involving product design, distribution strategies and agreements, and compliance programs. He is also responsible for a number of important compliance tools, including Minter Ellison's Disclosure Toolkits. Richard has had a long involvement with the financial services industry, particularly as chair of the IFSA (now FSC) Regulatory Issues Working Group for over 8 years. He has been involved in many industry working groups over that time and is currently a member of groups focussing on shorter PDSs, FOFA, AML and life insurance.

Richard specialises in the regulation and distribution of general insurance products and is an acknowledged expert on financial services regulation (FSR), AML and credit reform. His experience includes providing strategic advice to financial institutions on FSR implementation and compliance, the introduction of new prudential standards and advising on the establishment and regulation of distribution channels and arrangements. He also advises on governance requirements, policy wordings, reinsurance treaties and disclosure. He has also been involved in a number of insurance portfolio transfers, including statutory schemes under Division 3A of the Insurance Act and Part 9 of the Life Act. Clients include IAG, NTI, Calliden, Suncorp, Wesfarmers and Zurich.

Richard has practised in life insurance since the introduction of the Life Insurance Act in 1995 and has been an active member of various life insurance industry associations, most recently and currently the Financial Services Council. During this time, Richard has had extensive involvement in reviewing and developing life policies, both individual and group, and advising on reinsurance treaties and product disclosure documents. He has also been involved in a number of Part 9 and Division 3A transactions and has advised on regulatory and governance issues relating to life companies, statutory funds and life policy resettlements.

Richard regularly advises on the application of APRA's prudential standards, particularly for insurance companies and banks and other deposit taking institutions. He has particular expertise in prudential standards relating to governance, outsourcing and reinsurance and the requirements of insurance and banking legislation. Richard has also been involved in a number of insurance portfolio transfers, including statutory schemes under Division 3A of the Insurance Act and Part 9 of the Life Act.