3rd Annual Credit Law Symposium 2021
Join an esteemed panel of speakers including the Financial Markets Authority, Financial Services Council, banks and financial and credit law experts as they uncover the critical legislative, technology, privacy, anti-money laundering and compliance issues affecting the credit law and lending sector right now. You will explore the impact of a changing credit law landscape while you receive the concise information you need to stay on top in the year ahead. WEB2111NZA07
Description
Attend and earn 7 CPD hours
Chair: Aaron DeLacey, Deputy General Counsel, Bank of New Zealand
8.45am to 9.00am Introduction and Opening Comments from the Chair
NEW LEGISLATION, REFORMS AND RECENT DEVELOPMENTS
9.00am to 9.50am UPDATE FROM THE REGULATOR: An Update on the New Financial Advice Regime
Presented by Romil Ghelani, Manager – Financial Supervision and Deepika Ichaporia, Senior Advisors, Financial Markets Authority
9.50am to 10.40am Financial Services and Insurance in New Zealand: Update on Recent Developments
- Insights from the COVID-19 crisis & impacts on NZ consumers
- The changing financial services landscape in NZ
- Outlook for 2022
Presented by Richard Klipin, Chief Executive Officer, Financial Services Council
10.40am to 10.55am Morning Tea Break
10.55am to 11.45am Conduct Regulation: Where do we Currently Stand on the Financial Markets (Conduct of Institutions) “COFI” Bill?
- Current status of the COFI Bill and associated regulations and guidance
- Key practical issues in implementing the COFI regime
- Dealing with the overlap with FSLAA and CCCFA
- Implications for those inside and outside the COFI regime
Presented by Blair Keown Partner and Zavara Farquhar, Lawyer, Bell Gully; Clare Bolingford, Director of Banking and Insurance, Financial Markets Authority
11.45am to 12.35pm Consumer Credit Law Reform 2021: A Retrospective
- Key changes including:
- Responsible lending uplift (affordability, suitability & record-keeping)
- Introduction of due diligence obligations
- Repayment difficulties
- Debt collection disclosure
- Enforcement uplift
- What went well and what didn’t go so well
- Looking ahead – a programme of continuous improvement
Presented by Mary-Ellen Kenyon, Special Counsel – Consumer, Bank of New Zealand
12.35pm to 1.25pm Networking Lunch
CRYPTOCURRENCIES, FINTECH AND FUTURE TECHNOLOGIES IN THE CREDIT SECTOR
1.25pm to 2.15pm New Developments in Cryptocurrencies and Virtual Assets for Finance
- Understanding decentralised finance (DeFi) or the use of cryptocurrencies and other assets to generate yield
- Understanding non-fungible tokens (NFTs), virtual assets used as tradable or collectible digital interests in art and other property – what are the legal issues? Can you take security over a virtual asset?
Presented by Jeremy Muir, Partner, MinterEllisonRuddWatts
2.15pm to 3.05pm The Future of Fintech in Banking and Credit
Join Katie Carson as she examines the current and future developments in fintech that will affect the credit and banking sector.
Presented by Katie Carson, Consultant, Avid.legal
PRIORITIES AROUND PRIVACY AND ANTI-MONEY LAUNDERING RISKS AND COMPLIANCE
3.05pm to 3.20pm Afternoon Tea Break
3.20pm to 4.10pm Privacy in the Credit Context
- General directions in global privacy regulation
- Privacy Act 2020 changes relevant to the credit industry
- Credit Reporting Privacy Code 2020
- Managing privacy when meeting other credit obligations, including AML/CFT and responsible lending
Presented by Daimhin Warner, Principal & Director, Simply Privacy
4.10pm to 5.00pm Spotlight on Anti-Money Laundering Risks
- Key messages from the FATF’s Mutual Evaluation report on New Zealand
- Trends in compliance, reporting and enforcement
- Looking ahead to 2022: the key AML issues on the horizon
Presented by Alix Boberg, Senior Associate, Bell Gully
Learning Objectives:
- Hear important updates from the regulator
- Examine the current credit law landscape
- Receive a critical update on the COFI Bill
- Gain a deeper understanding of the recent consumer credit law reform
- Ensure you’re up to date cryptocurrencies and virtual assets for finance
- Gain a deeper understanding of the future of fintech
- Understand the implications of the new privacy laws affecting consumer credit
- Receive a timely update on anti-money laundering risks
Presenters
Aaron DeLacey
Aaron DeLacey is an experienced commercial, banking & financial services lawyer and Deputy General Counsel at Bank of New Zealand. Aaron leads the banking & financial services legal teams at Bank of New Zealand and is also responsible for the legal team’s work on sustainability and maintaining an effective and efficient legal team. Aaron is enthusiastic about intergenerational thinking, sustainable business, education and equity.
Deepika Ichaporia
Deepika is a Senior Adviser within the Supervision function at the Financial Markets Authority (FMA). Overall the Supervision team is responsible for monitoring and investigating activities and conduct that pose risks to fair, efficient, and transparent financial markets in New Zealand, and to the objectives and strategic priorities of the FMA. Deepika is part of the Financial Advice Supervision Team, established due to the expanded remit under new regime. Deepika has been with the FMA since 2019 and has worked with the wider Supervision department. She is an enrolled Barrister and Solicitor of the High Court and an Associate member of the Chartered Governance Institute.
Romil Ghelani
Romil Ghelani is a Manager within the Supervision Function at the Financial Markets Authority. The Supervision team is responsible for monitoring and investigating activities and conduct that pose risks to fair, efficient, and transparent financial markets in New Zealand. His role at the FMA focuses on overseeing the implementation of the New Regime for Financial Advice in New Zealand. Romil previously worked for Deloitte in both New Zealand and Canada, focusing on compliance, internal audit, and operational risk consulting for financial services and public sector clients. He has in-depth experience in uplifting compliance and risk maturity in businesses. Romil grew up in Ottawa, Canada and is a Chartered Professional Accountant.
Richard Klipin
Richard is the Chief Executive Officer of the Financial Services Council – New Zealand. He has extensive experience in leading and transforming Industry Associations, Life Insurance manufacturers and Financial Advice businesses, having held senior leadership roles in all sectors over the past 24 years. Organisations include Sovereign Assurance, ANZ Banking Group, Association of Financial Advisers (AFA), ING and National Australia Bank. Richard is known as a community builder, skilfully engaging and influencing a diverse range of stakeholders to create common purpose, connection and enable collaboration. Richard holds an MBA from the Macquarie Graduate School of Management, a Bachelor of Arts and Diploma of Education from Macquarie University and recently completed the Denison Miller Senior Executive leadership program as well as the innovative ‘Rethinking Leadership’ program with the Hunger Project in India. As CEO, Richard is leading the FSC with a clear focus to be the “Voice of the Industry” at a time rapid regulatory change. Engaging with members and broader stakeholders, to tackle the key industry issues is a key part of his remit. Outside of work, Richard is passionate about his family, football, edible gardens and triathlons.
Blair Keown
Blair is a Partner 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.
Jeremy Muir
Jeremy heads the national Banking & Financial Services division at MinterEllisonRuddWatts. He specialises in funds, financial regulation, fintech and crypocurrency/blockchain innovation. In the cryptocurrency space, he acts for many of the key New Zealand industry participants and has recently been appointed as a special advisor to Parliament’s Finance & Expenditure Committee for their ongoing review of the area.
Katie Carson
Katie Carson was a Consultant as DLA Piper. She is a well-respected practitioner with over 20 years of local and international experience. She is recognised in the market as one of New Zealand’s most prominent experts in FinTech (including open banking and payments technology). Katie was born in Norway and grew up in the UK, where she graduated in law from Oxford University. After moving to New Zealand, she in-house experience as the sole legal counsel at Kiwibank when it was first established, as well as working at several major law firms (including as a partner from 2012). She now plays a central role in DLA Piper's FinTech team in New Zealand, which involves working with tech-based innovators in the financial services sector to explore market opportunities, understand regulatory perimeters and set up the right governance and funding structures. Katie also regularly advises established financial services clients on the development of new digitised products and acts for corporate venture capital businesses on strategic investments and acquisitions. Katie is passionate about supporting New Zealand businesses with funding and capital-raising activities, both domestically and in the global markets. She finds it genuinely rewarding to bring clarity and strategy to complex problems and loves working with clients as part of the team.
Daimhin Warner
Daimhin Warner is a Director of Simply Privacy, a consultancy providing privacy advice, strategy and training to business and government, and NZ Country Leader for the International Association of Privacy Professionals (IAPP). He’s a privacy professional with 15 years' privacy and related experience in both the public and private sector. Daimhin worked with the Office of the NZ Privacy Commissioner for 7 years, between 2007 and 2014, most recently managing the Commissioner's Auckland Investigations Team. Daimhin then moved to Sovereign Assurance, where he created and headed a Privacy Team and programme, before co-founding Simply Privacy in 2015. Daimhin holds an LLB, LLM (Hons) in Public Law, and is a Certified Information Privacy Professional/Europe (CIPP/E).
Alix Boberg
Alix has extensive experience in the management of regulatory risks and the defence of regulatory investigations and proceedings across a wide range of sectors. Alix has worked both as a prosecutor and defence counsel, in New Zealand and internationally, and joined Bell Gully in 2020. Alix's international experience includes working at Sullivan & Cromwell LLP in New York and Simmons & Simmons LLP in London, where she advised clients under investigation by the U.S. Department of Justice, U.K. Serious Fraud Office and Financial Conduct Authority. Alix holds a Master of Laws from Harvard Law School and was recognised as one of 100 Women in Investigations by the Global Investigations Review in 2018. Before working overseas, Alix was a criminal prosecutor in Auckland, acting as Crown counsel in jury trials, and completed a secondment at the Commerce Commission. She began her career as judge's clerk for the then Chief Justice, Dame Sian Elias.
Clare Bolingford
Clare leads coordination and market engagement for the expected conduct licensing regime of banks and insurers. Clare previously worked for the Financial Conduct Authority in the UK for almost 20 years, most recently as Head of Cross-Cutting Policy and Head of Supervision for Retail Banking Groups. She also spent two years at the UK Treasury, leading capital markets and prudential policy.
Zavara Farquhar
Zavara Farquhar is a lawyer at Bell Gully and regularly advises clients on financial services regulation and insurance law in New Zealand. She has experience in relation to compliance matters arising under financial services legislation in New Zealand, as well as acting for clients in responding to regulatory investigations and implementing customer remediation programmes. She is currently undertaking postgraduate study in financial markets law and regulation.