Qualifications
BSc, LLB, Victoria University of Wellington
Admitted
2002, New Zealand
Penny leads our Financial Services team.
An expert in financial services laws, Penny advises extensively on the full range of legislation affecting financial service providers, such as fund managers, insurers, financial advisers, brokers, discretionary investment management service providers, derivatives issuers, non-bank deposit takers and payments system providers.
She counsels clients on the establishment, restructuring, distribution and compliance of financial products, including KiwiSaver. Penny also advises on mergers and acquisitions and corporate restructurings in the financial services industry. She is experienced in obtaining licenses, and has managed numerous applications to, and negotiations with supervisors and regulators, including the Financial Markets Authority, Takeovers Panel, NZX, Companies Office and Reserve Bank of New Zealand.
Penny works with a wide range of clients, from large institutions both locally and internationally to boutiques and start-ups.
She is recognised as a Band 1 lawyer by Chambers Asia Pacific and as a Leading Partner by Legal 500 Asia Pacific.
Recent highlights
- Advised on product design, establishment, restructuring and ongoing compliance of various managed investment scheme products (including tax efficient PIE structures) for clients including Westpac New Zealand and BT Funds Management entities, AMP entities, BNZ, Fisher Funds Management, Pie Funds Management, Nikko Asset Management, HSBC, First NZ Capital Investment Management, Russell and Trust Investments Management.
- Led FMCA and FSLAA compliance and transitions for a range of clients, including obtaining licenses, preparing product documentation and advising on conduct requirements for insurers and reinsurers on licensing and compliance with the Insurance (Prudential Supervision) Act including solvency standards, statutory funds and on regulated transfers of insurance products.
- Drafted and negotiated numerous service provider, distribution, subscription, custody, registry and investment management agreements.
- Advised on anti-money laundering law compliance, including preparation of compliance programmes and risk assessments.
- Advised on cross-border securities and financial services law compliance, including advising on mutual recognition regime for funds offered in New Zealand by Australian responsible entities such as Colonial First State Investments, Aberdeen Asset Management, Janus Henderson, Schroders, Man Investments, Australian Unity Funds Management, Aurora Funds Management, Russell Investment Group and Ray White Investors.
Affiliations
- Member of Aotearoa Circle Sustainable Finance Forum 1.0 Leadership Group
- Chartered Member of the Institute of Directors
- Member of the Financial Service Council
