Financial Services Regulation & Credit

Financial Services Regulation & Credit


As one of the largest full service law firms, Jackson McDonald has the depth and breadth of expertise and experience capable of providing a comprehensive range of services to all participants in the financial services and credit industries.

Our lawyers’ depth of understanding and practical experience has been gained not just from extensive financial services and credit regulation work in the private legal practice, but also from experience working for ASIC and in senior compliance roles the financial services industry itself. Our background has proved invaluable when developing commercial solutions for major financial institutions and specialist providers.

We have extensive experience in advising clients in a broad range of industries affected by the financial services regulation and credit regimes, including general insurers, managed investment scheme responsible entities, stockbrokers, financial planners, superannuation providers, banks, credit unions and professional services firms providing expert reports for use in disclosure documents.

Our core capabilities in Financial Services and Credit include:

  • AFS licensing, including licensing applications, licence authorisations and the structuring of distribution relationships

  • Financial product advice and distribution

  • Preparation and review of FSR disclosure documents

  • FSR anti-hawking provisions

  • Cross selling of financial products through call centres

  • FSR advertising requirements

  • Acquisition and disposal of financial services businesses

  • Tailored responsible officer training sessions

  • Managed investment law 

  • Acquisition due diligence, advice and negotiation on behalf of potential acquirers of managed investment scheme businesses

  • Credit licensing applications, licence authorisations and variations and the structuring of distribution relationships

  • Credit services delivery and responsible lending obligations

  • Credit documents, including National Credit Code disclosures, credit card terms and conditions and reverse mortgage documentation

As a leading FSR and credit practice, the Financial Services Regulation and Credit team at Jackson McDonald has developed a detailed understanding of regulatory and commercial issues across the financial sector. Our team has demonstrated particular experience in strategic planning for the introduction of new regulatory requirements to ensure that clients can continue to conduct their core business in a fully compliant manner.

We believe our service offering and industry knowledge is enhanced by the fact we:

  • regularly advise on all aspects of  financial services and credit regulation, from licensing, compliance with conduct and disclosure obligations and other regulatory requirements impacting upon the operation of your business; and

  • have detailed expertise and long-standing experience gained from many years acting for participants in the financial services, managed investments and credit industries; and

  • closely monitor all legislative and regulatory policy developments in these complex, highly regulated and constantly changing sectors.

  • 27 January 2016

    Applying partnership assets to meet the costs of liquidators appointed to the former partners

    It is well-established that a liquidator is entitled to his or her expenses properly incurred in preserving, realising or getting in property of the company to which they are appointed.

    Authors: Victoria Butler, Eva Lin

    LINK 43 Bytes

  • 12 March 2015

    Privacy Act: Anniversary refresher

    Today is the first anniversary of the amended Australian privacy regime.  If you haven’t thought about whether the Privacy Act is relevant to your business, now is the time to do so.

    Author: Elizabeth Tylich

    LINK 40 Bytes

  • 5 March 2014

    Banks beware - a new take on late payment fees

    On 5 February 2014, the Federal Court of Australia handed down its much anticipated decision in Paciocco v Australia and New Zealand Banking Group Limited (ANZ) [2014] FCA 35 ( Paciocco ). The decision in Paciocco - finding that certain late payment fees charged by ANZ to its customers were penalties and therefore unenforceable – is another important development in the law concerning penalties in the finance and banking industry.

    The Federal Court in Paciocco reinforced the take home ‘penalty’ principles identified by the High Court in Andrews v Australia and New Zealand Banking Group Ltd (2012) 247 CLR 205 ( Andrews ), and the decision will have major repercussions for banks and other financial institutions who charge their customers with standard late payment fees of $20 or more.

    Author: Victoria Butler

    Download PDF 779 Bytes

  • 25 May 2012

    Jackson McDonald 5th time Perth Law Firm of the Year

    Jackson McDonald consolidated its position as the leading West Australian law firm when named Perth Law Firm of the Year at the 2012 ALB Australasian Law Awards in Sydney on 24 May 2012.

    It is the fifth year out of six that Jackson McDonald has won this prestigious award.

    Authors:

    Download PDF 304 Bytes

  • 24 November 2011

    Property Syndicates - Do you need a licence?

    With bank finance becoming increasingly difficult to obtain, structured non-bank finance for property transactions are looking increasingly attractive to promoters of property investments. Under the Corporations Act, the promoter of a property investment company, property trust or property syndicate may need to hold an Australian Financial Services Licence (AFSL).

    Authors:

    Download PDF 243 Bytes

  • 10 January 2011

    Doing Business in Asia Pacific

    Jackson McDonald is a proud member of Globalaw and has assisted in the development of this guide.

    Authors:

    Download PDF 4 Bytes