Our team's experience can be divided into the following broad fields

• Commercial
• Regulatory & Compliance
• Industry Advocacy & Representation
• Litigation & Dispute Resolution
• Governance & Risk Management

Commercial

• Advice relating to acquisition of boutique fund manager ($350m FUM).
• Advice relating to structuring and licensing for major public sector superannuation fund in establishing a wealth management entity to service its members.
• Obtaining an AFS licence for national stock broking/ corporate finance group as part of an MBO ($1.4 billion under management or under sponsorship).
• Advice relating to merger of two financial planning entities of two separate APRA regulated groups ($1.1 billion FUA).
• Advice to accounting firm relating to sale of its financial planning entity to national AFS licensee aggregator ($580m FUA).
• Advice relating to Buyer of Last Resort Program for major national licensee.
• Advice to financial planning firm relating to set up of white-label fund with major national bank group ($800m FUA).
• Advice relating to structuring and licensing of AFS licensed entity spun-off from international ASX listed engineering and property development group.
• Advice relating to transfer of corporate authorised representative between two AFS licensees including wind-up of white-label product, administration arrangements and client transfer ($480m FUA).
• Acting for national AFS licensee in structuring purchases of aggregated accounting/financial planning practices.
• Advice to national ASX Participant regarding licensing issues as part of the merger of two ASX Participants.
• Advice relating to transfer of a corporate authorised representative from one ASX Participant to another ASX Participant ($880m FUA).
• Advice relating to proposed merger of major national financial planning licensee with national fund manager and advisory group ($5 billion FUM and FUA).

Regulatory & Compliance

• Acting for licensees and representatives in relation to a $400m FUM product failure. Acting for 8 unrelated licensees in matters before ASIC. Acting for individuals the subject of Notices issued by ASIC under section 19 of the ASIC Act 2001. Acting for individuals in relation to ASIC hearings relating to proposed banning orders. Acting for individuals in appeals before the AAT relating to banning orders.
• Acting for AFS licensee involved in marketing financial software and client seminars in negotiating enforceable undertaking regarding ongoing servicing of 11,000 clients.
• Acting for AFS licensee, directors and representatives in relation to ASIC's investigation of alleged insider trading.
• Acting for ASX Participant in relation to ASIC's investigation of alleged market manipulation and breach of Market Integrity Rules.
• Acting for AFS licensee negotiating enforceable undertaking regarding product replacement conduct involving over 400 retail clients.
• Obtaining relief from ASIC in respect of licensee obligations relating to consumer compensation provisions for the Australian entity of a UK-based financial services group operating in the derivatives market.
• Investigation of the alleged misconduct of personnel of AFS entity of APRA regulated group.
• Project management of compliance response to ASIC Notices regarding agricultural scheme collapses on behalf of 4 unrelated national AFS licensees.
• Acting for AFS licensee in relation to alleged contravention of the Takeovers: prohibited acquisitions of relevant interests provisions of the Corporations Act 2001.
• Acting for AFS licensee in notifying, negotiating with ASIC and conducting remedial action involving deficient disclosure documents (1,700 clients).
• Compliance review and due diligence of financial planning entities of major bank owned funds management and financial planning group.

Industry Advocacy & Representation

• Negotiating the client transfer privacy protocol on behalf of a major life office with the Federal Privacy Commissioner in July 2003. The protocol granted relief for an "opt-out" method of client consent, rather than opt-in obligation, which permitted a form of "bulk-transfer" approach. This client transfer protocol is published on the Australian Privacy Commissioner's website as an industry standard for privacy purposes and appears as Business FAQ 6.
• Membership of Commonwealth Treasury's Financial Services Consumer Compensation Roundtable (2006 – 2007).
• Participant – Financial Planning Advisory Committee – Financial Ombudsman Service (2009 - 2011).
• Member of the ASIC Financial Services Consultative Group (2007- current).

Litigation & Dispute Resolution

• Acting for AFS licensee in seeking to recover indemnity from representative in relation to claims arising from adviser acting outside licensee approved standards, procedures and product lists.
• Advising AFS licensee in relation to the replacement of the responsible entity of a group of managed investment schemes.
• Advising AFS licensee regarding class action relating to alleged misconduct by former representative (claims $9m).
• Acting for AFS licensee regarding multiple individual client claims arising from alleged conduct of two former representatives (claims $14.5m). Dealing with regulatory issues, consumer claims and media management issues.
• Acting for AFS licensee regarding action commenced by ASIC in the NSW Supreme Court during the "super switching" campaign.
• Acting for AFS licensee involving marketing financial software in Federal Court action brought by ASIC alleging misleading and deceptive conduct.
• Advising AFS licensee and directors in a matter relating to injurious falsehood and defamation by former client.
• Acting for AFS entity of APRA regulated group applying contractual restraint provisions against former representative poaching clients. Urgent injunction relief and litigation in the Supreme Court of WA.
• Acting for AFS licensee in relation to alleged Ponzi scheme conducted by representative (claims $9.5m). Liaising with ASIC, AFP and WA police services. Dealing with media related issues and consumer compensation matters.
• Acting for AFS licensee in matter brought by another AFS licensee - fund manager alleging breach of copyright and passing off.
• Acting for the directors, responsible managers and representatives of AFS licensee in dealing with the liquidator of the licensee regarding various matters including the client registers.
• Producing independent experts report into collapse of financial product issuer used in ASIC administrative hearings and AAT appeals.
• Acting for AFS licensee in relation to ASIC investigations, and advising in relation to WA and NSW police investigations concerning alleged misappropriation of client funds by representatives.
• Acting for AFS licensee in relation to civil action by clients commenced in NSW Supreme Court.
• Acting for AFS licensee and its representative in action by an industry superannuation fund for defamation and injurious falsehood in relation to publications by representative.

Governance & Risk Management

• Independent member of audit and risk management committee of ASX listed fund manager and financial planning firm.
• Responsible manager and member of the compliance committee of the AFS licensed entity of a national property development group.
• Advising, negotiating and assisting with drafting the specifications of new professional indemnity insurance policies for the financial planning industry in association with a leading national insurance broker and international insurer in 2010.

Halseys offers advice and representation to the financial services industry