Navigating complex financial services regulation, investment funds, and evolving FinTech can be complicated. Our team can guide you.
At the forefront of the highly regulated and constantly changing financial services sector, our internationally recognised financial services practice is one of New Zealand’s largest. Thought leaders and change makers, we are continually shaping and influencing the country’s financial regulatory framework.
We are passionate about the opportunities our clients engage in, from technology to responsible investment (including climate change responses) and work alongside them to overcome any challenges they face.
We advise the entire financial services industry on:
Financial services regulation including engaging with regulators as well as advising on the:
FinTech and blockchain technology including:
Insurance including front end matters relating to life insurance, corporate advisory, and transactions within the industry. We have specialists across our full-service firm to deal with all your other insurance needs, including litigation.
We enjoy introducing international clients to New Zealand and helping those with global ambitions. We collaborate with our colleagues at MinterEllison in Australia on trans-Tasman financial services matters. We also make use of our longstanding relationships with many law firms around the world to ensure our clients get the best legal advice as well as seamless service.
MinterEllisonRuddWatts is a market leader in financial services with great levels of service, outstanding regulatory insights and a very pragmatic and commercial approach.
Chambers Asia-Pacific 2023
Advised Rabobank New Zealand Limited on its first, second and third years of climate reporting under New Zealand’s new mandatory climate related disclosures regime. The work included reviewing climate statements for compliance with financial markets legislation and climate standards, advising on greenwashing risk, and supporting an exemption amendment. The advice strengthened disclosures for a major agribusiness lender operating across New Zealand and the Netherlands. We also obtained exemptions from the FMA for Coöperatieve Rabobank U.A., NZ branch from the regime.
Advised multiple international fund managers, including 2040 Ventures, Pioneer Capital, GD1 and Icehouse Ventures, on establishing New Zealand domiciled funds to qualify for Active Investor Plus criteria. Guided end to end fund formation, aligning funds and immigration settings. Enabled managers to attract migrant capital with confidence during regulatory change, including for renewable energy investment strategies.
Advised Peninsula Credit, a wholesale fund manager and lender on the establishment of two New Zealand private credit funds Peninsula Credit Fund I LP and Peninsula Credit Fund II LP, as NZ limited partnerships. The work covered structuring, regulatory analysis and launch of a closed end fund and an evergreen fund, including Active Investor Plus compliance. The funds respond to growing demand for alternative growth capital within a disciplined regulatory framework.
Advising ASB Bank’s fund manager subsidiary, ASB Group Investment I, 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.
Advised Camco Asset Management Limited (a UK-based climate and impact fund manager) on establishing TIDES, a first of its kind blended finance renewable energy fund for the Pacific, structured as a New Zealand limited partnership. The work covered fund structuring, documentation and negotiations with New Zealand and UK government agencies. The fund targets USD 100 million to support renewable energy and sustainability projects across Pacific Island nations.
Advised Aon NZ on the sale of its $1 billion FUM retirement savings business (including Aon KiwiSaver) to Fisher Funds including transfer of shares in AonSaver Limited and Superannuation Nominees Limited and the assignment and/or novation of relevant contracts.
Advised Dai-ichi Life on its acquisition of NZ licensed insurer Partners Life Limited, for approx. NZ$980 million. The work included all aspects of the transaction including structuring, due diligence, and obtaining Reserve Bank and other regulatory approvals.
Structuring and establishing wholesale only limited partnership funds for managers including Pioneer Capital, Icehouse Ventures, Nuance Capital, Continuity Capital, Movac, Better Bite, Alt Ventures, Milford Private Equity, Origin Capital, Pacific Channel, New Ground Capital. Also advised other managers on investment terms and group structures.
Advising Sharesies Limited, a major broking platform, in relation to the FMA’s notice of intention to issue a formal warning under the AML/CFT Act, including supporting it through its engagement with the FMA, providing extensive advice on technical compliance with the AML/CFT Act, and developing a remediation plan. Representing Sharesies Limited in a hearing with the FMA, and negotiating the terms of the formal warning to accurately reflect the outcome (which was much narrower than the original allegation).
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