Financial Products: Development, Establishment, Distribution

Financial products in Australia are increasingly offered in an innovative and dynamic market. Product manufacturers and distributors across the industry are constantly looking for guidance on how to navigate this complex area of regulation.

At HDY, we understand the environment, and have shepherded global and local fund managers (both new entrants and established players), Australian retail and investment banks, boutique fund managers, super funds and other market participants, such as brokers and market operators, as they bring a broad array of financial products to market.

Our product experts are regularly called upon to contribute to industry and government discussions on regulatory reforms relating to financial products, including consulting to Commonwealth Treasury on significant and regulatory reform projects including the investment manager regime, new collective investment vehicles, Asia Region Funds Passport, and leading a study for the NSW Financial Services Knowledge Hub into the regulatory impacts on FinTech startups.

How can we help

We have deep expertise in advising on product establishment, structuring and distribution issues including disclosure, investment management and outsourcing arrangements. This includes advice on the increasing use of technology in the development and modelling of financial products (particularly for those in the FinTech space). We have dedicated expertise in investment distribution and have advised on major projects for platform operators and advice providers.

We can assist you with regulatory advice at each stage of the product life-cycle. Click here to find out more about product licensing and exemptions or for assistance with cross-disciplinary and contentious regulatory product reviews, re-designs and enforcement actions, click here.

Case Study

We have assisted Henderson Global Investors with the establishment and growth of its retail investment management business in Australia. From establishment in March 2013, Henderson has grown to now manage more than $171.3bn in assets across a broad range of asset classes.

Our assistance has included supporting the inception and continued growth of the business, including by:

  • Assisting with obtaining Henderson's AFS licence, advising on the preliminary compliance and regulatory infrastructure and negotiating material outsourcing agreements
  • Advising on acquisitions of funds management businesses 90 West Asset Management and H3 Global Advisors and on the integration of their funds into Henderson
  • Advising on new funds including preparing the constituent documentation, reviewing the product disclosure statement, chairing the due diligence committee and liaising with the Australian regulator in relation to the registration of the funds
  • Advising on the integration of the Perennial funds on to the Henderson platform including change of responsible entity of 11 registered funds from IOOF to Henderson as part of its acquisition of fund managers, Perennial Fixed Interest Partners Pty Ltd and Perennial Growth Management Pty Ltd.
Nikki Bentley

I understand the financial services industry and thrive on helping our clients in this industry succeed.

Jon Ireland

I constantly strive for technical excellence and commercial outcomes that add real value for my clients.

Meet some of our team

Our Financial Products: Development, Establishment, Distribution Experience

Denmark based asset manager

We acted for a Denmark-based asset manager to address the regulatory hurdles in order to offer their investment management services to the Australian institutional market. We sought individual relief from ASIC and applied for an exemption from the requirement to hold an AFS licence on the basis that the asset manager is regulated by the Danish Financial Services Authority under a regulatory regime which is sufficiently equivalent to the Australian regulatory regime. This involved undertaking a comparative analysis of Australian and Danish law and opening communication channels between the two regulators.

Eze Software Group

We have advised this leading provider of global, multi-asset class investment technology solutions for the front, middle and back office. We analysed the activities of Eze Software Group in Australia and determined, as a result of the financial services regime, its activities constitute the provision of financial services. Our team advised Eze Software of its requirements for an AFSL to carry on business in Australia.

Prodigy Investment Partners Limited

We advised Prodigy Investment Partners Limited, a joint venture between Euroz Limited and Mr Steve Tucker, on the establishment of its first boutique funds management business, Flinders Investment Partners, a specialist Australian small and emerging companies investment manager. HDY advised on structuring and the documentation to establish the boutique and on the establishment of the Flinders Emerging Companies Fund.

TH Real Estate Australia Limited (THRE)

In assisting THRE in their application for an AFSL, our team advised on relevant authorisations required for immediate and future business growth plans and a range of compliance and regulatory issues related to the establishment of the licensed entity, including responsible manager appointments, ongoing licensing obligations and financial requirements applicable under the AFSL. Our assistance facilitated the establishment of THRE's Australian operations, positioning the business for its future growth.