Finance Sector Regulation

A specialist legal team within Corrs' Banking and Finance practice group advises financial institutions on all aspects of banking and financial services regulation and the implications of ongoing reforms.

Corrs' regulatory lawyers are actively involved in guiding clients through the implementation of all current regulatory reforms in the financial services industry including most recently the Financial Services Reform Act, the Reserve Bank's credit card reforms and proposed designation of debit cards and ATMs and the introduction of new anti-money laundering laws.

Corrs' lawyers regularly assist clients in the lobbying process and have successfully achieved legislated exemptions under the Financial Services Reform Act and consumer credit legislation. As part of this role, our lawyers have drafted a multitude of submissions to government on behalf of clients and actively take part in industry consultation processes.

We also advise on developing new retail products, including standard documentation, procedures manuals and other compliance tools that allow our clients to operate efficiently and effectively without compromising compliance.

Corrs' new retail product experience includes consumer finance products, rewards schemes, purchased payment facilities, electronic gift vouchers, executive and private bank fee packages, mortgage off-set facilities, Internet banking and bill payment services, co-branded card products, multi-currency credit card payment options and bundled insurance packages.

To help our clients manage compliance, Corrs have developed electronic tools including fully customised documentation and procedures manuals and privacy / information handling manuals.