Financial Institutions & Fund Managers

Experience

• Providing coverage advice to a global insurer in respect of the current DDO related prosecution by ASIC of a funds manager.
• Providing coverage advice and acting as monitoring counsel for primary D&O insurers in an ASIC investigation and related class action arising from the collapse of a major listed financial services group. Subsequently, defending directors and officers in litigation by the receivers.
• Providing coverage advice and acting as monitoring counsel for excess layer D&O insurers in a variety of ASIC investigations and prosecutions.
• Acting for non-executive directors of a failed regional non-bank lender, defending one of the largest investor class actions in Victoria, and in related litigation by special purpose liquidators.
• Representing a funds manager and two directors in two ongoing NSW Supreme Court class actions by investors.
• Acting for an AFSL in relation to a remediation resulting from frauds by an authorised representative.
• Responding to other investigations and litigation by ASIC, ACCC, ATO, and APRA, including in s19 ASIC Act examinations and civil penalty actions.
• Acting for various AFSLs (mainly superannuation funds) in responding to notices and preparing witnesses for the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.
• Defending the successful insurer in McCarthy v St Paul at trial and on appeal, vindicating a declinature for fraud in the context of a failed investment scheme.
• Providing coverage advice in respect of potential mass claims against a bank owned AFSL and acting with consent in the eventual settlement of a test case claim.
• Advising a Lloyd’s underwriter on the efficacy of a blanket notification of files as potential claims from a rogue authorised representative.