Banking and Financial Services Insights

23 February 2006

Welcome to the first edition of Clayton Utz Banking & Financial Services Insights for 2006.

We've been waiting for the new anti-money laundering laws for a long time - now that a draft has been released for public comment, what will it mean for our everyday business? We'll carefully examine the draft bill in this edition.

We'll also look at some of the more common conflicts in a financial services conglomerate (and how to deal with them) and what can happen if you don't give a debtor written notice of an assignment of debt.

Finally we'll meet Geoff Geha, who has just become a partner in our team, and our new special counsel David Lester.

Overview of the Anti-money Laundering and Counter-Terrorism Financing Legislation

By Narelle Smythe.

Now that the exposure draft of the anti-money laundering bill has been released, Narelle Smythe looks at what it will mean for the banking and financial services sector.

Independent office of the trustee: a model for managing conflicts in financial institutions?

By Zein El Hassan.

Conflicts are an ever-present problem in financial services conglomerates, says Zein El Hassan, but could an independent office of the trustee help manage them?

Winding up on a factored debt

By Karen O'Flynn.

Karen O'Flynn warns that a failure to give a written notice of an assignment of a debt can be fatal.

Profile: Geoff Geha

Geoff is a new partner in our team.

Profile: David Lester

David has advised clients in relation to the development and financing of major projects in Queensland, including resource and energy projects, major infrastructure projects and Public Private Partnerships.

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