WebinarLegalFinanceTax & AccountingCorporate

Comparative Perspectives on Financial Services Regulation

5pm - 6.30pm AEST
Online

Join a panel of international experts to compare approaches to the design of financial services regulation across different jurisdictions.


This webinar is one in a series of international webinars being hosted as part of the Australian Law Reform Commission’s current inquiry into the potential simplification of corporations and financial services regulation in Australia. 

The ALRC is tasked with making recommendations to facilitate a more adaptive, efficient, and navigable framework of legislation “within the context of existing policy settings”. The ultimate goal is to achieve meaningful compliance with the substance and intent of the law. 

The key problems that are sought to be addressed by this inquiry include the following: 

  • The structure and framing of Chapter 7 of the Corporations Act 2001 (Cth) do not provide clear links between the rules and the fundamental norms of behaviour that they seek to achieve, as recommended by the Financial Services Royal Commission. 
  • An overly prescriptive approach to regulation creates risks of regulatory arbitrage, adds to compliance costs, and reduces productivity. 
  • Regulation is overly complex. 
  • There is a large number of definitions scattered throughout legislation, and many key terms are defined differently within and between related statutes. In addition, many similar concepts are described in different terms in different statutes. 

The first legislative design issue that the ALRC is asked to inquire into is the use of definitions in corporations and financial services regulation, including: 

  • the circumstances in which it is appropriate for concepts to be defined, consistent with promoting robust regulatory boundaries, understanding and general compliance with the law; 
  • the appropriate design of legislative definitions; and 
  • the consistent use of terminology to reflect the same or similar concepts. 

In line with the initial focus of the ALRC’s inquiry, this webinar will include discussion of how key terms and concepts, such as financial products and services, are defined and delineated for the purposes of corporations and financial services regulation in different jurisdictions.

Webinar Learning Outcomes

  • Appreciate convergences and divergences in approaches to the design of corporations and financial services regulation in the UK, Hong Kong, Singapore, New Zealand and Australia
  • Understand how key terms and concepts of corporations and financial services regulation are defined in Australia and abroad.

Suited to:

  • Legal professionals and academics
  • Financial services professionals and academics
  • Accountants
  • Corporations and financial services regulators
  • Investment professionals

Presenters:

Welcome:
The Hon Justice SC Derrington,
President, Australian Law Reform Commission,
Judge, Federal Court of Australia.

Presenters:
Mark Steward,
Executive Director, Enforcement and Market Oversight, Financial Conduct Authority (UK).

Ashley Ian Alder, SBS, JP,
Board Chair, International Organisation of Securities Commissions (IOSCO) and CEO, Securities and Futures Commission (Hong Kong)

Martyn Hopper,
Partner, Linklaters (London).

Andrew Procter,
Partner, Herbert Smith Freehills (London).

Kim Kit Ow,
Partner, Bird & Bird ATMD (Singapore).

Deemple Budhia,
Partner, Banking and Finance, Russell McVeagh (Auckland).

 

 

Register Now
President - ALRC
President, Australian Law Reform Commission
Justice Sarah Derrington was appointed President of the Australian Law Reform Commission and a Judge of the Federal Court of Australia from 10 January 2018.

Prior to her appointment, Justice Derrington was the Dean of Law at the University of Queensland and a barrister specialising in maritime and shipping law, general commercial law and arbitration.
 
Mark Steward - FCA
Executive Director, Enforcement and Market Oversight, Financial Conduct Authority
Mark Steward was appointed the Director of Enforcement and Market Oversight for the Financial Conduct Authority (FCA) in October 2015.
Ashley Ian Alder - HK Securities and Futures Commission
Board Chair, International Organisation of Securities Commissions (IOSCO) and CEO, Securities and Futures Commission (Hong Kong)
Ashley is the Chief Executive Officer of the Securities and Futures Commission (SFC) of Hong Kong. He was first appointed in October 2011. 
Martyn Hopper - Linklaters
Partner, Linklaters (London)
Mr Hopper advises financial institutions on regulatory matters. Prior to returning to private practice in 2004 he spent over nine years working as a senior lawyer at the UK Financial Services Authority, latterly as Head of Department in the Enforcement Division. 
Andrew Procter - Herbert Smith Freehills (London)
Partner, Herbert Smith Freehills (London)

Mr Procter is a London based partner in Herbert Smith Freehills Financial Services Regulation team.


He works with clients on establishing governance, compliance and legal risk frameworks, implementing new regulation, mapping senior manager responsibilities, and conducting external and internal investigations.

Kim Kit Ow - Bird & Bird AMTD Singapore
Partner, Bird & Bird AMTD (Singapore)
Ms Ow is a partner in the Banking & Finance group at Bird & Bird ATMD in Singapore, where her practice involves advising clients on issues in financial regulation, corporate and investment banking transactions, wealth management, private banking, payment services and FinTech.
Deemple Budhia - Russell McVeagh (Auckland)
Partner, Banking and Finance, Russell McVeagh (Auckland) 
Ms Budhia specialises in debt capital markets, securitisation (including covered bonds) and structured finance, financial markets regulation and derivatives. 
 
Webinar
Comparative Perspectives on Financial Services Regulation
Online
5pm - 6.30pm AEST
Monday, 24 May
Complimentary
Register Now