Tim Williams

Tim is a highly experienced lawyer in New Zealand’s financial services, wealth management, insurance, and banking sectors.

Tim is sought after by local and offshore financial institutions for his commercial expertise, problem-solving abilities, in-depth regulatory knowledge and strong regulator relationships.  

Tim specialises in structuring, designing and documenting innovative investment products; obtaining licences and exemptions; and advising on mergers, acquisitions, restructurings, AML, governance and regulatory compliance and investigations. He advises financial institutions, insurers, banks, fintechs, financial advisers and DIMS providers, payment systems providers and deposit takers.

Tim established many of New Zealand’s largest KiwiSaver schemes (including BNZ, ASB, Generate) and numerous managed investment schemes (particularly PIEs), investment companies and limited partnerships including tax-efficient cash and term PIE products for the banking market.  

Tim has been recognised as a Band 1 financial services lawyer by Chambers Asia Pacific for over two decades and as a Leading Partner by Legal 500 Asia Pacific. He has also been listed in EuroMoney Experts Guide to the World’s Leading Banking Finance and Transactional Lawyers as an Outstanding Investment Fund Practitioner.

Recent highlights

• Advising local and offshore organisations on major regulatory reforms and compliance, including Contracts of Insurance Act, CoFI, AML/CFT Act, Insurance (Prudential Supervision) Act, custody laws, the Financial Markets Conduct Act, Overseas Investment Act, Financial Service Providers registration laws, CCCFA, Deposit Takers legislation, the Companies Act and the trans-Tasman mutual recognition regime.
• Obtaining licences and exemptions, including Active Investor Plus growth category approvals and Financial Services Provider registrations. Recent work includes securing climate reporting exemptions for three major international banks, the two most recent derivative issuer licences, a CoFI exemption for an insurer, and AML exemptions for a payment provider.
• Structuring and documenting investment products, most recently, five new wholesale investor products, two credit funds, two structured property investment funds, a mortgage fund, the first-ever term PIE fund for a non-bank deposit taker, and a limited partnership, including documenting their compliance, outsourcing, policies and controls, SIPOs, management and investment management, distribution, administration, custody and other arrangements.
• Advising on new fintech/start up products. Recent work includes three new payment providers, two novel and innovative insurance products, having previously assisted with Afterpay’s market entry in New Zealand.
• Assisting seven financial institutions prepare their fair conduct programmes, many AML reporting entities prepare their risk assessments and AML programmes, and three international banks with their New Zealand compliance; having previously sought, drafted and advised on the Reserve Bank’s Class Authorisation Notice for Overseas Banks.
• Advising on significant local and cross border M&A and restructuring transactions, recent example include Partners Life’s acquisition of BNZ Life ($290m), Partners Life’s sale to Dai-ichi Insurance ($1b), AMP Life’s transition to Resolution Life ($600m FUM), Resolution Life’s investment restructuring ($3b FUM), NZX/Smart’s acquisition of SuperLife’s management rights, and AMP’s sale of its Superannuation Master Trust ($1.6b FUM).
• Advising on the design and implementation of Foundation Life’s High Court-approved scheme of arrangement to restructure $600m of participating insurance policies, building on Tim’s experience advising on a contingent scheme of arrangement for $700m of Christchurch earthquake claims.  
• Advising on responses to FMA’s and DIA’s inquiries and investigations, and making submissions on proposed legislation.

Affiliations

• Member of the Institute of Directors.
• Founding Member of the Financial Services Council (FSC).
• Founding Member of the Institute of Financial Professionals New Zealand (INFINZ).
• Member of the Insurance Brokers Association of New Zealand.
• Founding member of Fintech New Zealand’s AI in Financial Services Group.