The Clayton Utz Retail Banking team has a top tier client base, including major domestic and overseas banks, finance companies and other financial sector participants. One of our team's key differences is that our retail finance lawyers have both a litigious and non litigious practice, making them ideally placed to provide a seamless range of services in respect of retail banking practice and regulation.
Our retail banking lawyers' expertise includes retail banking documentation, procedures, forms and systems, covering personal and business credit products, margin lending products, related securities and guarantees, credit cards and deposit products distributed by a range of channels including electronically, telephone and via third parties.
We regularly advise upon all legislation relevant to banking operations, including the Uniform Consumer Credit Code (UCCC), Financial Services Reform Act (FSRA), Financial Transactions Reporting Act (FTRA), Anti-Money Laundering / Counter-Terrorism Funding Act (AML/CTF), Banking Act, the Payment Systems (Regulation) Act, Code of Banking Practice, EFT Code of Conduct, Cheques Act, National Privacy Principles, and credit reporting provisions of the Privacy Act.
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We provide market-leading advice in relation to all aspects of payment systems law, and our leading market status is demonstrated by our role as the Reserve Bank's principal legal adviser on payment systems reform.
We advise on all aspects of access to bank accounts, including card access, redraw facilities, account linkage, electronic banking and BPAY. We have drafted numerous electronic banking terms and conditions, agreements for the distribution of financial products through cards and electronically and, have done considerable work in relation to smartcards.
We regularly clear and settle advertising material and advise on marketing compliance with legislation such as FSR, ASIC Act and TPA for our banking clients. Our experience also includes advice and development of new financial products or product features, advice on distribution and avoiding exclusive dealing, and consumer and small business issues regarding unconscionable conduct and use of substantial market power.
Our team consults with regulators and participates in industry and government initiatives. Our team keep abreast of AML/CTF legislative and administrative developments. For example, one of our team is a member of an AML Working Group established by the Ministerial Advisory Group, the Government's primary forum for consultation with industry on the development of AML/CTF financing laws and policy. Team members also lecture on AML/CTF in the University of New South Wales Masters of Law course developed and run by Clayton Utz as the first specialist combined funds management, superannuation, insurance and compliance law course in Australia.