DLA Piper New Zealand's dedicated financial services practice is expert in the laws and regulations governing the financial services industry.

We understand that there is now a far greater onus on organisations for disclosure, governance and transparency, and great need for appropriate risk management.

Our financial services team has a depth of practical understanding of New Zealand’s regulatory environment. Lawyers in our team have leading in-house experience with regulators and financial services companies, including as former members of those organisations’ executives. This is in addition to their considerable experience as independent legal counsel.

Through our practice, DLA Piper New Zealand has been instrumental in advising a large group of leading clients on regulatory changes, compliance, systems, training, implementation and operation of this regime. These requirements continue to be challenging and complex for many entities.

Financial Services regulations covering conduct, disclosure and registration are now bedded into organisations. Currently, the regulator – the Financial Markets Authority (FMA) – is tightening its discipline on the market.

DLA Piper New Zealand has close contact with the FMA, and understands its direction, powers and requirements of the industry. We proactively assist clients who are licensed trustees and supervisors, qualifying financial entities and financial services operators to meet these new demands, and to meet the continuous raising of standards in the industry.

DLA Piper New Zealand is renowned for our role in acting for key, representative financial services industry groups such as the Trustee Corporations Association and the Institute of Financial Advisers. We assist these organisations in government representation on regulatory and legislative reform, and help shape the environment on behalf of their members.

A further, important aspect of our practice is gained through DLA Piper internationally.  Rapid market and regulatory changes are continuing throughout the world. Most countries have engaged in significant overhauls of their financial regulations as a result of the global financial crisis.

DLA Piper New Zealand is able to identify, track, note and bring these changes to the attention of our national clients, well before such changes occur in New Zealand. We thus have unique insights into offshore regimes that are influencing the New Zealand environment.

DLA Piper New Zealand provides specialist advice on relevant changes in offshore regimes including on issues such as the Foreign Account Tax Compliance Act.

Through our nationally and internationally collaborative practice in financial services regulatory matters, we are well placed to help New Zealand clients solve regulatory and legal problems, and manage their compliance and risk effectively.

CAPABILITIES

  • Registration, certification, review, records, compliance and governance
  • New legislation, regulation
  • Securities regulations
  • Audits
  • Qualifying Financial Entities (QFEs)
  • Financial service provider regulation
  • Risk management
  • Anti-money laundering
  • Tax
  • Qualifying Recognised Overseas Pension Schemes (QROPs)
  • Foreign Account Tax Compliance Act (FATCA)
  • Financial Advisers and Brokers
  • Insurance (Prudential Supervision) Act (IPSA) Listing Rules

EXPERIENCE

Public Trust; Government Superannuation Authority; Board of Trustees of the National Provident Fund
DLA Piper New Zealand provides legislative compliance programmes for a number of our private sector and listed clients which includes regular legislative updates.

AMP
DLA Piper New Zealand acted for AMP in relation to the client's application to be a qualifying financial entity under the Financial Advisers Act. This included providing signoff for all primary and secondary disclosure statements for the client's financial advisers.