Regulatory
The financial services industry is operating under unprecedented regulatory scrutiny. Banks, insurers, superannuation trustees and other financial institutions face mounting obligations under APRA and ASIC frameworks, including AFSL licensing and breach reporting requirements, alongside growing scrutiny of governance, risk management, and disclosure practices.
Prudential standards such as CPS 230 and CPS 190 are reshaping risk management expectations, while frameworks like the Financial Accountability Regime (FAR) and Design and Distribution Obligations (DDO) require continuous oversight. ESG reporting, climate risk, cyber resilience, privacy reforms and Anti-Money Laundering and Counter-Terrorism Financing compliance add further complexity, with regulators increasing enforcement activity and personal accountability across all levels.
We work with a broad range of financial institutions to anticipate regulatory changes, manage compliance obligations, and respond to investigations and enforcement actions. We are also highly regarded for our advice on licensing, prudential standards, AFSL obligations, and emerging regulatory trends.
How we can help
We are trusted advisors to the financial services industry, working closely with banks, insurers, superannuation trustees, fund managers and other regulated entities. By combining legal insight with deep industry knowledge, we provide advice that is clear, pragmatic and focused on achieving the best outcomes for our clients.
Our expertise spans regulatory compliance for financial institutions, as well as insurance-related matters, including directors’ and officers’ liability, management liability, professional indemnity and cyber risk. We provide coverage advice and have significant experience managing complex, multi-layered claims.
Our capabilities include guiding clients on APRA prudential standards, ASIC reporting requirements, and governance frameworks aligned with industry best practice. We regularly advise on compliance, investigations, and enforcement actions initiated by regulators such as ASIC, ACCC, APRA and AUSTRAC.
We have successfully defended claims arising from ASIC and ACCC investigations, securities class actions, and regulatory prosecutions. We have also acted in disputes before AFCA, representing fund managers, insurers, and financial institutions in matters involving allegations of non-performance, inappropriate advice, and complex indemnity issues.
Our Regulatory services include:
- ASIC obligations, including breach reporting and AFSL licensing
- APRA compliance and prudential standards
- Financial Accountability Regime (FAR) implementation
- Product governance, including design and distribution obligations and unfair contract terms
- Anti-money laundering and counter-terrorism financing compliance
- Cyber and privacy obligations, including CPS 230
- ESG and sustainability compliance
- Governance reviews and accountability frameworks
- Regulatory investigations and enforcement defence
- Representation in royal commissions and inquiries
- AFCA dispute resolution
- Portfolio transfers and APRA approvals
- M&A regulatory support
- Cross-border regulatory advice and foreign investment approvals
- Product development and distribution compliance
- Coverage advice and complex claims management
We provide tailored training for boards, senior leaders, and compliance teams, focusing on regulatory priorities and emerging risks. Our programs are designed to help organisations stay informed, proactive, and aligned with evolving requirements and industry best practice.
Our approach to Regulatory claims
Our extensive experience and long-standing relationships with insurers and financial institutions give us unique insight into regulatory expectations and industry priorities, enabling us to anticipate change. We combine technical expertise with a practical, commercial mindset, adopting a forward-thinking approach to keep clients ahead of compliance challenges.
We work collaboratively with stakeholders to deliver bespoke strategies that align with business objectives, while effectively mitigating risk. By understanding operational realities, engaging with regulators, and providing clear, practical advice, we help our clients navigate regulatory complexity, protect their reputation, and thrive in a highly regulated environment.
End-to-end support across compliance advisory, governance reviews, dispute resolution, and litigation.
Early identification of emerging regulatory changes, enabling proactive strategies that minimise risk and disruption.
Governance solutions that embed compliance and accountability across all levels of client organisations.
Deep regulatory knowledge combined with practical experience in insurance law, AFCA disputes, and compliance frameworks.
Our Regulatory Team
Our national regulatory practice comprises a team of highly experienced lawyers who specialise in regulatory compliance for financial institutions, as well as insurance-related matters (list areas).
"The BN team have greater expertise than any other panel firm at being able to find the appropriate balance of managing all stakeholders involved in a claim, irrespective if the stakeholder is the insured, claimant, broker or underwriter.”
Legal 500 Asia Pacific – Insurance, Australia