Practical, well-informed, timely advice across the full range of financial regulation
We are the market leaders in developing pragmatic and robust solutions to help businesses meet their regulatory compliance obligations. We have an in-depth knowledge of financial services and products built up over many years of working with clients across all areas of the industry.
The sector is currently undergoing significant legislative and regulatory change. Chapman Tripp engages in the policy reform process closely, working with officials and stakeholders to secure the best law possible, and is highly regarded for our ability to help businesses to adjust to new regulatory requirements as they are imposed.
Intelligent teamwork across the full spectrum of related specialist legal services, including complex consumer and financial services litigation, enables us to meet all of your needs effectively and cost-efficiently.
We have advised
- Financial advisers and financial service providers on their compliance obligations under the Financial Advisers Act and Financial Service Providers (Registration and Dispute Resolution) Act, including analysing the suitability of the QFE model and preparing Adviser Business Statements and compliance programmes for licensing and authorisation applications.
- On the prudential supervision requirements affecting registered banks, non-bank deposit takers and insurers under the Insurance (Prudential Supervision) Bill.
- On the licensing and authorisation of futures dealers by the Securities Commission under the Securities Markets Act, and trustees and statutory supervisors under the Securities Trustees and Statutory Supervisors Bill.
- On banking litigation including loan and lender liability; defending claims made by the Securities Commission, NZ Markets Disciplinary Tribunal, and by consumers; and regulatory investigations by the Commerce Commission relevant to financial products.
- On securities law reforms affecting issuers, including the introduction of the Securities Regulations 2009, the Capital Markets Development Taskforce proposals, the current Ministry of Economic review of securities legislation and the proposed establishment of the Financial Markets Authority.
- On anti-money laundering compliance and legislation, under the Financial Transactions Reporting Act and the Anti-Money Laundering and Countering Financing of Terrorism Act.
- A variety of market participants in relation to disciplinary proceedings brought by the NZ Markets Disciplinary Tribunal and its predecessor NZX Discipline.
- Retail banks in relation to investigations by the Commerce Commission of alleged breaches of the Credit Contract and Consumer Finance Act 2003 in relation to mortgage default fees, and transaction fees.
- Directors in relation to threatened litigation by the Securities Commission in relation to breaches of the Securities Act 1978, and Securities Markets Act 1988.
- On KiwiSaver fund performance disclosure reforms.