Financial Services Regulatory and Governance

Our team has a deep understanding of the financial services regulatory environment and is an active participant through involvement in industry working groups. We manage regulatory issues relating to investments and fund operations including Australian foreign investment regulations and financial services regulations in Australia and abroad. We have advised and assisted a large number of financial services clients with their licensing requirements.

Our financial services team includes dedicated specialists in the regulation of the industry. Our expertise stems from dealing with complex issues across the sector from major financial institutions to specialist service providers, as well as active participation in industry forums.

We are experienced in the establishment, licensing, governance and operation of fund managers and responsible entities, platform operators, superannuation trustees and funds, authorised deposit taking institutions (ADIs), insurance companies, reinsurers and their holding companies, and financial planning firms, brokers and agents in Australia. We specialise in transactions affecting the ownership and control of ADI's, insurers, wealth managers and their holding companies, with particular expertise in demutualisation of credit unions, building societies and friendly societies.

We are a leading adviser on the establishment and operation of managed funds, hedge funds, exchange traded funds and prime broker arrangements and all aspects of obtaining and maintaining Australian Financial Services Licences.

Minter Ellison has a strong focus on regulatory compliance and change management issues for its clients. We are unique in our develop of practical tools to help our clients manage their regulatory burdens through the development of licensing toolkits, the widely used Disclosure Toolkits and our specialised publications such as Integrated FSR and Integrated AML.

Our team maintains a close connection with regulatory developments affecting the industry and is recognised as a leading contributor on many areas of reform through active participating in industry working groups, making submissions on key areas of concern to the Government and regular dealings with APRA, ASIC, AUSTRAC, Treasury, FIRB and other regulators.

15 April 2014

Minter Ellison supports regular reviews of Australia’s financial system. The Wallis inquiry, the Henry review, and the Johnson report each provided the context for discussion and constructive change aimed at reshaping the financial services sector for the benefit of Australians while factoring in the interests of the global investment community. We therefore welcome the Financial System Inquiry (FSI) and the opportunity to offer detailed insights and recommendations to the Inquiry via this written submission.

31 January 2014

Details of the federal government's proposed amendments to the Future of Financial Advice (FOFA) regime have come to light with the release of a consultation draft of Bill and Regulations that give effect to the reforms announced on 20 December 2013.

14 January 2014

The Office of Best Practice Regulation has released the Regulation Impact Statement on the Government's proposals to amend FOFA prepared by Treasury in November 2013 (RIS).

13 January 2014

ASIC issued Class Order [CO 13/1621] on 7 January 2014 to exempt responsible entities (REs) from the application form requirements of section 1016A.

23 December 2013

The Coalition Government has announced that it will make good on its election promises to fix some of the problems of FOFA and more.