Financial Institutions

Financial institutions engage in the business of dealing with monetary and financial transactions. They encompass a broad range of business operations including banks, insurance companies, investment dealers and brokerages. The financial advice provided by industry participants and the transactions conducted are often complex. The industry is subject to close regulation and scrutiny by the Australian Prudential Regulatory Authority (APRA) and the Australian Securities and Investments Commission (ASIC).

Our team is experienced in advising financial institutions on claims management, remediation programs, enforceable undertakings, and strategically sensitive issues. We have assisted our clients with responses to investigations and enquiries by ASIC and APRA, and we have acted in complaints before the Australian Financial Complaints Authority (AFCA). Our expertise also includes representing banks, fund managers, venture capital funds, investment managers, financial planning groups, and trustees.

On instructions from insurers, we have acted for financial institutions in court proceedings, including class actions, in claims involving allegations of negligence, breach of statutory duty, misleading and deceptive conduct, accessorial liability, and cartel conduct. We work closely with the insured financial institution to understand the background to the claim and then devise a defence strategy that is in the best interests of all stakeholders.