Banking & Finance
What Areas Can We Assist With?
Banking and finance law is a large area which covers both individual consumers and corporate entities.
Broadly speaking, in this area, a banking and finance lawyer may typically advise on:
- The structure and regulation of the banking and financial system;
- Obligations between banks and customers; and
- Ways of financing commercial transactions
However, there are a number of more specialised areas in which issues may arise, including:
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Compliance with major regulators such as the Reserve Bank, Australian Prudential Regulation Authority and Australian Securities and Investments Commission;
- The legal implications of opening or holding funds in a range of bank account types, including the consequences of holding sole accounts or joint accounts.
- Banking secrecy and confidentiality, as well as regulatory considerations under the Privacy Act 1988;
- Responsibilities, liabilities and obligations in the field of electronic banking, in relation to any transfer of funds through electronic signal exchange, whether between financial institutions, or between financial and commercial institutions;
- The legal advantages or disadvantages of different payment systems, including cash and non-cash payments, and any issues relating to clearing and settlement, surcharge standards and retail payments;
- Cheques and negotiable instruments, which are documents that guarantee payment of a specified sum of money on demand or at a specified time. As set out in the Personal Property Securities Act 2009 (PPSA), this may include bills of exchange, promissory notes (promissory notes), letters of credit or other written documents providing evidence of a right to payment of money;
- Lending, borrowing and project financing, whether on an individual or corporate basis;
- Planning and documenting financial instruments and completing commercial transactions. This includes drafting and advising on various loan and security documents/files, mortgages, guarantees, commercial and retail leases, construction contracts, and the establishment of trusts and business structures such as companies, partnerships, unit trusts and discretionary trusts;
- Asset management and investment asset management, involving advice on asset management businesses, fund formation, capital raising, hedge funds, real estate, investment funds, domestic and foreign assets, administrative arrangements, incentive mechanisms and regulatory advice;
- Corporate restructuring, ranging from informal restructuring processes to other issues including but not limited to financial restructuring, debt refinancing, operational restructuring, business stabilization, recovery management, financial distress, and whether insolvency may lead to restructuring or liquidation;
- Alternative dispute resolution (ADR) options and strategies to negotiate an outcome before resorting to an outside decision maker; and
- The intersection of banking, finance and technologies such as cryptocurrency, blockchain, Bitcoin, Ethereum and FinTech.
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