Tim co-leads our Financial Services Regulation, Funds, KiwiSaver & Superannuation teams and specialises in securities and commercial law.
Tim is the only Auckland lawyer recognised in the 2010 EuroMoney/IFLR Guide to the World's Leading Investment Funds Lawyers. Chambers Asia Pacific 2012 ranks Tim as a leading corporate/commercial lawyer, and describes him as "a prominent expert in securities" and "the best all round adviser on funds management". Chambers Global 2013 describes Tim as "very capable across many different areas."
Tim chaired the NZ Markets Disciplinary Tribunal Appeal Panel and was formerly a member of the Tribunal (the NZX disciplinary body) since inception in 2004. He is also a member of the Financial Services Counsel legislation committee, and was on the Technical Advisory Group advising the Minister of Internal Affairs on the Overseas Investment Act.
As part of his financial services practice, Tim advises on the establishment, restructuring and compliance of investment products, including KiwiSaver schemes and unit trusts, cross-border securities offerings and the trans-Tasman mutual recognition regime. He advises insurance companies on their licencing, compliance and governance. Tim has advised on a number of NZX IPOs exceeding $8.6 billion in value, including seven of New Zealand's largest NZX listings. He has also advised on numerous M&A transactions, takeovers and restructurings, and advises financial advisers and QFEs on their compliance.
Tim advises extensively on the Securities Act, the Financial Markets Conduct Act, the Financial Advisers legislation, the Insurance (Prudential Supervision) Act, the trans-Tasman mutual recognition regime, the Non-bank Deposit takers legislation, AML legislation, the Takeovers Code, and the NZSX Rules.
Tim's experience includes:
- developing the BNZ, ASB, Generate and First NZ KiwiSaver schemes; Cash and Term PIE Funds for various banks; Trafalgar Copley’s Cayman Islands’ hedge fund; and advising on various investment products for AMP, AMP Capital, ASB, AXA, BNZ, BT, First NZ Capital, HSBC, Westpac, ABN, Aberdeen, Accordia, Barclays, Colonial, Macquarie Bank, NZX, Russell and Trust Investments
- advising on outsourcings, restructurings, fund closures, IMAs, custody agreements, registry agreements and other similar contracts
- advising News Corp on its $800 million private placement of 43% of Sky Network TV
- advising Ansvar (ACS) on dealing with its $800 million insurance claims, its compliance with the Insurance (Prudential Supervisor) Act and the establishment of its contingent scheme of arrangement, the first scheme of its type in New Zealand
- obtaining two of the first three exemptions from the Takeovers Code and advising on takeovers pre bid arrangements and the Takeovers Code generally
- advising on IPOs exceeding $8.6 billion in value, including seven of New Zealand's largest IPOs (Spark, SkyCity, AMP Limited, Goodman Properties, Precinct Properties, Westpac New Zealand and WiNZ); on the New Zealand securities law issues associated with BT Investment Management's AU$247 million IPO on the ASX; and on NZX's largest equity public offer, Ameritec's sell down of its Spark stake
- advising on restructurings, including News on its INL/Sky Network Television restructuring (the 2006 NZ Deal of the Year), First NZ Capital on its FNZ wrap business spin out and investment business separation into PIEs, and BT on its product consolidation and the restructuring of its retail and wholesale businesses
- advising ING on the sale of ING (NZ) Holdings Limited (as part of its Australasian group sale to ANZ for A$1.76 billion), on its acquisition of National Bank’s funds management and insurance businesses, and on its purchase and sale of Remuera Gardens and Epsom Village assets; CS Company on its sale to (and repurchase from) AMP Private Equity; Colonial on the sale of the listed Goodman property trust management rights; and Paper Plus on its acquisition of the Books & More chain
- on the NZX listing of investment products, including the $650 million Westpac NZ Class Share IPO; the Mission Contact Finance redeemable preference share offer; AMP’s WiNZ Fund and TeNZ IPOs, and
- influencing the form of various pieces of legislation including the Financial Advisers Act, the establishment of the 0% PIR foreign investor tax charges, the SMA director and officer disclosure laws and the Financial Advisers (Code of Professional Conduct for Authorised Financial Advisers) notice; obtaining exemptions from the Securities Act and authorisations for futures dealers.