Tim Williams

Tim Williams

Tim Williams

Partner, Auckland

Financial services regulation; Funds, KiwiSaver & superannuation

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T:+64 9 358 9840

M:+64 27 243 1629

E:tim.williams@chapmantripp.com

Qualifications

BCA, LLB, Victoria University of Wellington

Admitted

1986, New Zealand

Tim is a leading commercial lawyer in New Zealand, who established Chapman Tripp’s Financial Services team. He is sought after for his knowledge, and commercial and practical expertise, particularly in the investment funds, insurance, investment products, financial services and banking sectors.

He has a broad range of practical experience, including commercial law, licensing, compliance, mergers and acquisitions, anti-money laundering (AML), overseas investment, restructurings, takeovers and NZX listings.

With an extensive background in the preparation of wealth products, he was instrumental in developing many of the county’s largest KiwiSaver schemes and other investment funds (managed investment schemes), including the cash and term PIE products for the New Zealand banking market, which collectively raised over $20b. He also advises insurers and brokers on their licensing and compliance programs.

Tim’s advice covers a range of legislation, including the Financial Markets Conduct Act, Financial Services Legislation Amendment Act, AML legislation, Financial Advisers Act, Financial Service Providers legislation, Insurance (Prudential Supervision) Act, trans-Tasman mutual recognition regime, Non-bank Deposit Takers legislation, Companies Act, Takeovers Code and NZX Rules.

Recognised as a Band 1 lawyer in Chambers Asia Pacific 2020 and as a leading individual in Legal 500 Asia Pacific 2020. He is also listed in the EuroMoney Experts Guide to the World’s Leading Banking Finance and Transactional Lawyers as one of the outstanding practitioners in the field of investment funds, and in Best Lawyers 2020 as a leading mutual funds lawyer.

Recent highlights

  • Investment fund managers: developed KiwiSaver schemes for ASB, BNZ, Generate and three other providers; cash and term PIE funds for ASB, HSBC, BNZ and various other banks; and established and advised on various investment products for AMP, AMP Capital, ANZ, ASB, AXA, BNZ, BT, Calder Stewart (Forthill Property Fund), Craigs, First NZ Capital, Heartland Bank, HSBC, Westpac, Barclays, Colonial, Macquarie Bank, NZX and Russell, helping with their outsourcings, restructurings, fund closures, IMAs, custody agreements, registry agreements, distribution arrangements and other similar contractual arrangements.
  • Insurers: assisted four major insurers with their responses to the FMA/RBNZ “conduct and culture” reviews, helped develop actions plans, compliance plans, governance structures, distribution arrangements, policies, procedures and controls and FSLAA responses, and assisted with business acquisitions and broker network arrangements.
  • Licensing and compliance: advised various organisations on their licensing applications and the associated compliance programs, including licences for financial advisers, insurers, fund managers, discretionary investment scheme (DIMS) providers and derivative issuers, prepared risk assessments and compliance plans for AML/CFT financial institutions, and established ACS’s contingent scheme of arrangement, the first Court approved scheme of its type in New Zealand.
  • Regulatory relief: obtained exemptions from the FMCA and AML/CFT legislation, advised on responses to statutory inquiries, made submissions on and influenced proposed legislation, and successfully lobbied for FMCA class exemptions for overseas ESOPS, DRPs and overseas banks (including a class exemption for overseas banks to carry on business in New Zealand).
  • Buyers and sellers of businesses: (particularly in the financial services sector) lead Foundation Life’s acquisition of Tower Life which involved its participating insurance business (with $700m FUM), AUB Group on its acquisition of interests in a number of New Zealand insurance broking businesses (including separately BrokerWeb Risk Services Limited, Runacres Insurance Limited from IAG, and Rosser Underwriting Limited), the sale of ING NZ to ANZ as part of the group’s AU$1.76b transaction, ING’s acquisition of ANZ National Bank’s funds management and insurance business with $700m FUM, ANZ’s purchase and sale of Remuera Gardens and Epsom Village assets; CS Company’s sale to (and repurchase from) AMP Private Equity; Colonial on the sale of the listed Goodman Property Trust management rights; and many other business sales and acquisitions.
  • ECM issuers: advised on listing financial products, including IPOs exceeding $8.6b in value; seven of which were New Zealand's largest IPOs: Telecom (now Spark), SkyCity, AMP, Goodman Properties, Precinct Properties (ANZO), Westpac New Zealand and AMP’s WiNZ fund; on the New Zealand securities law aspects of cross boarder IPOs; on NZX's largest equity public offer Ameritech’s instalment receipt offering, and on listed company buybacks including by Westpac and CBA.

Affiliations

Director of seven companies

Member of Institute of Directors, Financial Services Council, Insurance Brokers Association of New Zealand

Corporate & commercial; Corporate governance; Equity capital markets; Financial services regulation; Funds, KiwiSaver & superannuation; Insurance; International trade & investment; Mergers & acquisitions; Privacy & data protection; Private equity; Regulatory law

Services

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Banks & financial institutions

Sectors

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