Auxlaw provides a comprehensive service offering to the financial services industry. Our expertise spans financial services regulation, dispute resolution and commercial transactions. We advise Australian Financial Services (AFS) Licensees, Australian and international insurers, lenders and borrowers, Australian Credit Licensees and Fintech providers. 

Financial Services Regulatory

The financial services industry operates under a complex and rapidly evolving regulatory framework. We assist clients in navigating that framework, providing a comprehensive legal advisory and risk assurance service. This allows our clients to do business with the confidence that they are supported by a dedicated and experienced legal team.  

We advise on matters arising under the Corporations Act 2001 (including Chapters 5C, 6D, and 7, and the AFS licensing framework), Australian Securities and Investments Commission Act 2001, Australia’s insurance regulatory framework (including the Insurance Act 1973, Insurance Contracts Act 1984 and Life Insurance Act 1995), National Consumer Credit Protection Act 2009, Anti-Money Laundering and Counter-Terrorism Financing Act 2006 and the Privacy Act 1988. 

Our team can assist with:

• advising on compliance with relevant legislation, including the requirement to hold an AFS License / Australian Credit License, and the scope of authorisations that are required to carry on business; 
• preparing and advising on applications for AFS Licenses and Australian Credit Licenses, license variations and Responsible Manager appointments; 
• advising on matters arising under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, including the operation of legislative provisions and the development and review of compliance programs;
• compliance reviews with respect to legislative requirements and license conditions, and advice concerning legislative developments and evolving compliance requirements; 
• providing ongoing advice to financial services businesses, including serving as an advisory member on compliance committees and attending compliance committee meetings; 
• drafting and reviewing Financial Services Guides (FSG), Product Disclosure Statements (PDS), Statements of Advice (SOA) and other disclosure documentation;  
• providing training and professional development to Responsible Managers, Authorised Representatives and key staff; and
• advising on product structuring and regulatory issues with respect to the issuing and sale of financial products, including products regulated under Chapter 6D of the Corporations Act 2001. 
  

Investigations and Dispute Resolution

We act for regulators, regulated entities and insurers in regulatory investigations and litigation. We possess deep knowledge and expertise of litigation practice and procedure, and experience acting in matters before various state and territory courts and tribunals, the Federal Court of Australia and the High Court of Australia.

Our experience includes:

• advising and acting in ASIC / APRA investigations and enforcement proceedings, including civil penalty proceedings and the review of administrative / delegate decisions (including banning orders); 
• responding to notices issued by regulators, including notices issued under ss 30, 30A, 30B, 31, 32A and 33 of the Australian Securities and Investments Commission Act 2001; 
• appearing at examinations under s 19 of the Australian Securities and Investments Commission Act 2001; 
• advising and representating AFS Licensees, Australian Credit Licensees and financial institutions, in proceedings before courts and tribunals, including the resolution of Australian Financial Complaints Authority (AFCA) complaints;
• acting for plaintiffs, defendants and insurers in insurance disputes, including claims against professional services providers, directors and officers; and
• acting for both lenders and borrowers in debt matters and proceedings concerning the enforcement of securities. 
  

Commercial transactions

We can assist in drafting, reviewing and advising on:

• loan agreements, and associated documentation including security agreements and guarantees;
• commercial agreements for AFS Licensees, including authorised representative agreements;
• credit representative agreements;
• agreements for the sale / purchase of financial services, credit and insurance businesses;
• distributor agreements;
• joint venture agreements; and
• privacy policies and privacy notices.
  

Fintech

Our financial services team works closely with our technology lawyers to provide integrated solutions to the financial technology sector. We advise on the full spectrum of commercial and regulatory matters encountered by the financial technology providers. Our strong technical understanding places us at a distinct advantage to our competitors, and our clients enjoy responsive, insightful and practical advice across all aspects of their business.

For more information, please visit our Technology and Commercial pages for more information.