Special Counsel - Financial Services
Alistair is a specialist financial services regulation lawyer. He has extensive experience in banking and financial services regulation, managed funds, regulatory investigations and inquiries, and conduct and culture related matters within the industry.
He works with fund managers, trustee companies, financial advisers, banks, derivatives issuers, insurers, and fintechs to help them develop new products and services, and to understand and navigate the complex financial services regulatory environment. Some of his major clients include ANZ, ASB, Trustees Executors Limited, and Pie Funds.
Alistair advises on all aspects of the Financial Markets Conduct Act 2013 (FMCA) and other relevant financial services legislation. He has extensive experience in licensing issues and ongoing licence compliance, and deep knowledge of the regulatory framework for registered banks. He has advised several offshore technology platform businesses on offering new payments products in New Zealand.
Alistair began his career in London with Lawrence Graham LLP and then Linklaters. He has six years of in-house experience at ANZ Bank New Zealand, working across a range of legal, regulatory, and compliance roles, including as counsel for ANZ’s funds management and insurance businesses, and bank-wide roles as Head of Regulatory Affairs and Head of Compliance.
Drawing on his in-house experience, Alistair delivers practical solutions for his clients. He also has extensive experience of dealing with the Financial Markets Authority (FMA) and Reserve Bank of New Zealand (RBNZ) and an excellent understanding of the regulators’ approach and concerns. His advice is tailored and pragmatic.
Clients appreciate Alistair’s understanding of the commercial environment in which they operate and the practical demands of regulatory compliance.
Transfer of ASB Group Investments’ management of the Superannuation Master Trust
Advising ASB’s fund manager subsidiary, ASBGI, on the transfer to NZX subsidiary SmartShares Limited of the management rights of the ASB Superannuation Master Trust. The Trust includes more than $1.8 billion in retirement savings from more than 17,500 members across more than 100 employer groups. The transaction involved the assignment and/or novation of relevant contracts, as well as compliance with the FMCA and FMA approvals.
Advising several technology platform businesses on the financial services implications of establishing new payments products for New Zealand customers.
Closure and winding-up of Bonus Bonds
Assisting ANZ Investment Services on all aspects of the closing of the public offer of Bonus Bonds and winding up of the Bonus Bonds Scheme. With $3.2 billion invested in Bonus Bonds, the project required strategic and technical advice in a highly sensitive media and regulatory environment.
Banking standards compliance
Advising a major New Zealand registered bank on compliance with the Reserve Bank of New Zealand’s Open Bank Resolution and Outsourcing policies.
Free Trade Agreement
Advising a foreign Department of International Trade on New Zealand’s financial services regulatory regime and its potential treatment under a combined free trade agreement.
FMA supervision and monitoring review response
Advising a registered bank on its response to a Financial Markets Authority review of its Financial Advisers Act governance and compliance arrangements, including the development of its workplan to address the FMA’s concerns.
- 2015, New Zealand
- 2009, England and Wales
- Legal Practice Course (Commendation), College of Law
- BA (Hons), Law, University of Cambridge
- BA (Hons) (Philosophy, Politics and Economics), University of Oxford
- Financial services regulation
- Funds management
- Regulatory compliance
- Member of MinterEllisonRuddWatts’ internationally recognised Tier 1 (The Legal 500 Asia Pacific) and Band 1 (Chambers Asia-Pacific) Financial Services team
- +64 9 353 9918
- +64 27 293 7154