Financial Services

Our Financial Services & Insurance industry group is at the forefront of development across this complex, highly regulated and constantly changing sector. We are closely involved with all aspects of financial services, so we understand fully the operational and regulatory issues that the industry faces. Our specialist lawyers practice in the areas of banking, superannuation, funds and life and general insurance. We have unparalleled experience in and understanding of financial product advice and distribution, whether through aligned dealer groups or the open market.

Financial services is one of the core industry groups on which MinterEllison is founded. We act for the Big Four banks and other major financial services organisations in Australia and overseas. We provide commercially astute advice in M&A, capital markets, banking & finance, insurance, corporate governance, regulatory matters, tax, restructuring & insolvency, outsourcing and competition.

We are active participants in the key financial services industry associations, contributing to the policy debate and submissions to government on regulatory change. We invest the time to develop innovative products and solutions for our financial services clients to assist them comply with licensing and other financial services regulations.

We also have extensive experience in dealing with regulators — such as ASIC, APRA, ACCC, ASX, State Revenue Office and the ATO — and understand the regulatory outcomes they are trying to achieve.

Updated June 2017

Our financial services team reflects on and explores a range of issues across industries and sectors affecting our clients

7 November 2016

In this Alert, Sarah Barker (Special Counsel) and Maged Girgis (Partner) discuss a number of notable regulatory investigations in Europe and the United States, and consider what they suggest for the direction of corporate regulation – and litigation – in Australia.

6 May 2016

Post GFC transactions involving financial asset sales, whereby financial institutions have divested themselves of large debt portfolios, have increased across the globe. Financial institutions have looked to portfolio sales as an exit mechanism, as a consequence of increased regulatory and capital costs, choppiness in the securitisation market and changes in corporate strategy to focus on core jurisdictions. This article highlights some key issues to look out for under a portfolio sale of financial assets and provides a brief overview of a typical auction process.

5 May 2016

The 2016-17 Federal Budget, delivered on 3 May, included a number of announcements affecting businesses operating across international jurisdictions, including a new Diverted Profits Tax and two new types of collective investment vehicles. Our team dissects those key issues and more, exploring their impact on businesses in Australia.

5 May 2016

The Government has announced the introduction of two new types of collective investment vehicles (CIVs) as a tax-effective alternative to current Australian pooled investment trusts. The availability of these new CIVs is expected to significantly enhance the ability of Australian fund managers to offer their products to international investors.