Qualifications
BSc, LLB, Victoria University of Wellington
Admitted
2002, New Zealand
Penny leads our Financial Services team.
An expert in financial services law, Penny advises a broad range of local and international clients, including fund managers, insurers and reinsurers, financial advisers, brokers, discretionary investment management service providers, derivatives issuers, non-bank deposit takers, and payments system providers.
Her work spans the full lifecycle of financial products and providers, including strategy, design, licensing, restructuring, distribution, compliance and regulatory engagement. She regularly advises on conduct and CoFI matters, incentive structures and Active Investor Plus approved structures for attracting foreign investors into New Zealand products.
Penny also advises on mergers and acquisitions and corporate restructurings in the financial services industry. Penny has managed numerous applications to, and negotiations with, supervisors and regulators, including the Financial Markets Authority, Reserve Bank of New Zealand, Department of Internal Affairs, Companies Office, FSP Registrar and NZX.
She is recognised as a Band 1 lawyer by Chambers Asia Pacific and as a Leading Partner by Legal 500 Asia Pacific.
Recent highlights
- Advising on various managed investment scheme products, including KiwiSaver and tax-efficient portfolio investment entity (PIE) structures for a range of wholesale and retail fund managers.
- Leading implementation of major financial services law reforms, including CoFI, FMCA and FSLAA, covering licensing, disclosure, compliance programmes and product documentation.
- Advising on insurance law reforms and compliance, including the Contracts of Insurance Act and Insurance (Prudential Supervision) Act, solvency standards, statutory funds, and regulated transfers of insurance products.
- Drafting and negotiating key commercial agreements for investment and wealth businesses, including service provider, distribution, subscription, custody, registry, and investment management agreements.
- Advising on anti-money laundering compliance, including preparing compliance programmes and risk assessments.
- Advising on cross-border securities and financial services law compliance, including the mutual recognition regime for funds offered in New Zealand by Australian responsible entities.
Affiliations
- Member of Aotearoa Circle Sustainable Finance Forum 1.0 Leadership Group.
- Chartered Member of the Institute of Directors.
- Member of the Financial Services Council.
- Member of the Institute of Finance Professionals New Zealand.
Penny consistently provides clear and timely advice that demonstrates her understanding of our business and her deep regulatory knowledge.Chambers Asia Pacific
