Development, establishment, distribution | Henry Davis York - Henry Davis York

Financial products: development, establishment, distribution

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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 we can 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.

Our relevant experience

  • Global Investment Bank

    Advised on the establishment of a digital investment platform. Our assistance included reviewing and signing off on the distribution arrangements as well as on the regulatory compliance in relation to the platform, and various offering documents. This culminated in the successful launch of the platform and the achievement of the targeted objective of leveraging technology to access the customer base in new and innovative ways.

  • Global fund managers

    Advised numerous offshore fund managers on the establishment and offering of investment products and strategies into the Australian market. This includes advice on a broad range of asset classes including equities, real estate and alternatives offered to both retail and wholesale investors. Our initial advices on entering the market have allowed numerous managers to successfully test the local investment opportunities, in several cases leading to the establishment of permanent operations and domestic funds offerings in Australia.

  • Global wealth business

    Advising a global wealth business on the regulatory implications of offering a new innovative automated trading solution. The solution represents a new business direction for the client and a significant extension of its current offering to customers in Australia. Our support enabled the client to meet ASIC's requirements in relation to the new business model, including where automated trading and digital advice offerings require a tailored regulatory outcome.

Nikki Bentley


61 422 004 806

61 2 9947 6245

Stephen Etkind


61 412 769 209

61 2 9947 6472

Jon Ireland


61 414 290 163

61 2 9947 6091

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