banking and finance law

LAWYAL Solicitors provides advice on regulation and compliance for Australian financial institutions, non-bank lenders, building societies, mortgage originators and credit advisers, as well as accountants, financial advisers and car dealerships acting under the NCCP Act 'mere referrer' or 'point of sale' exemptions. In particular we advise on all legislation relevant to retail banking operations, including NCCP Act, Privacy Act and Principles, Credit Reporting Code of Conduct, AML/CTF Act, Competition and Consumer Act, SPAM Act, Banking Act and Banking Code of Practice, EFT Code of Conduct, Australian Consumer Law, and aspects of the Corporations Act.

We understand the regulatory burden facing Australian businesses, and provide clear and commercial legal and compliance solutions. We engage expert banking and finance legal consultants who provide advice with the highest degree of quality and commerciality.

Our expertise includes retail banking policies, procedures and documents, marketing collateral and distribution agreements, covering a range of personal and business credit products distributed directly, electronically or through external channels. We assist businesses with applying for licenses and introducing new regulations by conducting gap analysis, recommending changes to processes and documentation, and through post implementation assurance testing. For more information on how we can assist with regulatory reform, please see regulatory reform and compliance.

  • Assisted with the implementation of NCCP Act, Australian Consumer Law unfair contract terms, and the Corporation Act margin lending reforms into a large financial institution.
  • Acted on a full NCCP Act compliance review for a large financial institution, holding workshops with stakeholders to identify gaps in procedures and process and recommending improvements.
  • Provided advice to Referrers, Point of Sale vendors, Intermediaries and Credit Assistant Providers on licensing, responsible lending, disclosure obligations and compliance under NCCP Act.
  • Assisted with the implementation of AML/CTF Act, and the Privacy Act reforms into a large financial institution.
  • Advised on a project to redraft an entire suit of loan documentation and distribution agreements, to enhance for added protection, plain English for consumers, and to improve recourse for the lender.