Credit Law Symposium 2020
How has the market downturn impacted the credit sector and your credit law obligations? Join an esteemed panel of speakers including the Financial Markets Authority, Commerce Commission, Financial Services Council, the Office of the Privacy Commissioner, banks and financial and credit law experts as they uncover the grey areas and explore the impact of a changing credit law landscape while you receive the concise information you need to stay ahead of the curve 2021.
Description
Attend and earn 7 CPD hours
Chair: Aaron DeLacey, Deputy General Counsel, BNZ
8.45am to 9.00am: Introduction and Opening Comments from the Chair
NEW LEGISLATION: COMPREHENSIVE REVIEW
9.00am to 9.50am: New Credit and Finance Legislation and Sector Round Up
- Financial Services Legislation Amendment Act
- Credit Contracts and Consumer Finance Act
- COVID-19 related changes specific to credit law
Presented by Ben Upton, Partner, Simpson Grierson
9.50am to 10.40am: Credit and Privacy: Understanding the New Privacy Laws
Join Liz MacPherson as she provides an update on privacy laws and what you need to be aware of as the new Privacy Act comes into force.
Presented by Liz MacPherson, Assistant Commissioner, The Office of the Privacy Commissioner Te Mana Mātāpono Matatapu
10.40am to 10.55am Morning Tea Break
CRITIQUE OF THE CREDIT SECTOR: CURRENT OBLIGATIONS AND PRACTICAL GUIDANCE ON ENFORCEMENT
10.55am to 11.45am: Financial Services and Insurance in New Zealand: Examining the Impact of the Pandemic
Presented by Richard Klipin, Chief Executive Officer, Financial Services Council
11.45am to 12.35pm: Update from the Commerce Commission
Credit laws are changing so it is important that you understand the changes to your obligations. Examine the information you need to know from the Commerce Commission perspective.
Presented by Dorothy Benson, Deputy General Counsel, Commerce Commission
12.35pm to 1.25pm: Networking Lunch
PRIORITIES AROUND ENFORCEMENT, CONDUCT, DISPUTES AND ONLINE PLATFORMS
1.25pm to 2.15pm: Remediation and Regulatory Enforcement
- Key areas of legal exposure (FTA, FMCA, CCCFA)
- The approach of the regulators (ComCom/FMA/RBNZ)
- Self-reporting to the regulators
- How far back to remediate / investigate
- How to calculate refunds
- The practicalities of customer engagement
- How to fix the issue
Presented by Blair Keown, Senior Associate and Richard Massey, Senior Associate, Bell Gully
2.15pm to 3.05pm: Insights from the Financial Market Authority: Year in Review and What to Watch Out for in 2021
Observations from the last 12 months, and looking ahead over the next 12 months
Presented by Michael Hewes, Manager Supervision, Financial Markets Authority
3.05pm to 3.20pm Afternoon Tea Break
3.20pm to 4.10pm: Practical Implications of Credit Cases and Dispute Resolution
- Update and practical tips from credit cases recently investigated
- Financial sector legislative changes through a dispute resolution lens
Presented by Susan Taylor, CEO, Financial Service Complaints Limited
4.10pm to 5.00pm: Directions in Fintech: Regulating Platforms
Financial services businesses and customers are increasingly turning to online platforms to drive business and meet investment needs. Platforms are enabling investment in funds, direct equities and derivatives, both in NZ and offshore. This session will consider:
- Financial services licensing and registration requirements
- Digital advice
- Delivering on good conduct expectations (including the new Conduct of Financial Institutions legislation)
- AML/CFT
- Interaction with new technologies, e.g. blockchain and virtual assets
Presented by Jeremy Muir, Partner, MinterEllisonRuddWatts
Learning Objectives:
- Examine the current state of play of financial services in NZ
- Receive a critical update from the commerce commission
- Gain a deeper understanding of the current approach being taken by the regulators
- Ensure you’re up to date with the recent and important legislative developments in Credit Law
- Receive a timely update from the Office of the Privacy Commissioner on the new privacy reforms
- Hear from financial and consumer credit Regulators
- Receive a timely update on consumer credit cases and disputes
- Understand the practical implications of Fintech regulation
Venue
Hilton Auckland
147 Quay Street
Auckland 1010
New Zealand
Parking
Parking is not included in you registration. Here are some options below.
Wilson Park - Princes Wharf, Quay Street, Auckland offers parking, Click here to view rates.
Directions
Nearby Public Transport:
Train Stations - Britomart Train Station
Bus Interchange - Quay St/Lower Albert St
Presenters
Ben Upton, Partner, Simpson Grierson
Ben is a partner and specialist litigator in the banking and finance department at Simpson Grierson. He has extensive experience in complex commercial, banking, and insolvency disputes. Ben advises on all aspects of banking, finance, and insolvency law. He regularly appears as counsel in the New Zealand courts at all levels. He has acted as counsel in numerous mediations, arbitrations, and adjudications. Ben has a particular interest in credit law and lender conduct and has acted for a number of financial institutions in important cases in this area, to include GE Capital in GE Custodians v Bartle (NZSC), Westpac Bank in Westpac v Gardiner (NZCA) and more recently for ASB in Mills v ASB (NZHC). He presented on the same topic last year and will aim to provide comment on what has happened since then and insight into what 2021 and beyond may bring.
Liz MacPherson, Assistant Commissioner, The Office of the Privacy Commissioner Te Mana Mātāpono Matatapu
Liz has had a distinguished career of public service and has held a number of Deputy Chief Executive roles before being appointed to the position of Government Statistician, a position she retained until late last year. In addition to her wide and extensive leadership, management, policy, operations and regulatory experience, Liz has previously worked together with the Privacy Commissioner on a number of projects over the years. As a previous Government Statistician and Government Chief Data Steward Liz understands the value and importance of privacy, and its role in maintaining trust.
Blair Keown, Senior Associate, Bell Gully
Blair is a Senior Associate at Bell Gully, specialising in contentious issues relating to the financial markets and complex commercial disputes. He regularly advises international and New Zealand-based clients across a wide range of contentious matters including litigation, internal and external investigations, and the provision of regulatory compliance and risk management advice. Blair's international experience includes over seven years at Allen & Overy LLP, London where he was a senior associate within their banking, finance and regulatory disputes and investigations team. Blair had also spent time on secondment to the litigation and regulatory investigations team of the London branch of a global investment bank.
Richard Massey, Senior Associate, Bell Gully
Richard is a Senior Associate in Bell Gully’s litigation team. He specialises in consumer law and has acted for a range of clients on issues under the Credit Contracts and Consumer Finance Act and the Fair Trading Act. Richard frequently advises on credit matters, including responsible lending, disclosure and credit fees, as well as broader consumer issues including unfair contract terms and online contracts. Before joining Bell Gully, Richard worked at Slaughter and May in London, where he acted on a range of complex contractual disputes and regulatory investigations.
Michael Hewes, Manager Supervision, Financial Markets Authority
Prior to joining the FMA, four years ago, Michael spent 20 years in the life insurance industry [locally and throughout Asia] working across a wide range of roles including Product, Distribution and Marketing. Currently Manager, Supervision, at the FMA he leads a team responsible for monitoring FA, FMCA and Supervisor licence holders. His team have also published several recent thematic studies [Cyber Resilience & Derivatives Sector Risk]. Michael and his team and integrally involved with FSLAA implementation, having previously worked on the Digital Advice Exemption Program. Michael was the co-author of the 2019 Insurance Conduct and Culture report in conjunction with the RBNZ.
Susan Taylor, CEO, Financial Service Complaints Limited
Susan Taylor is the Chief Executive Officer of Financial Services Complaints Ltd (FSCL). FSCL, established in April 2010, is an approved dispute resolution scheme under the Financial Service Providers (Registration and Dispute Resolution) Act 2008. FSCL has over 7,000 financial service providers, including many financial advisers, as scheme participants. As CEO, Susan is the decision-maker on complaints, in the same way as an Ombudsman. Susan has more than 25 years’ experience in dispute resolution in the financial services industry and has presented at financial industry and consumer conferences both in New Zealand and overseas. Susan is a qualified lawyer and, prior to joining FSCL, Susan was the Deputy Banking Ombudsman. Susan is also a trustee on the Dame Malvina Major Foundation Board of Trustees and a public member of the Advertising Standards Appeal Board.
Jeremy Muir, Partner, MinterEllisonRuddWatts
Jeremy is a financial services and investment partner at MinterEllisonRuddWatts. He works with financial institutions of all stripes, specialising in regulation and financial products. He is deeply engaged in financial advice reform projects for clients from banks, to adviser groups, to fintech startups.