Alice Molan
Alice Molan is a financial services regulatory specialist.
Alice is a Partner in Herbert Smith Freehills’ leading Australian financial services regulatory practice. She advises local and international clients in the banking, non-bank lending, payments and fintech sectors understand the application of regulatory obligations to their business and respond accordingly. Alice specialises in licensing requirements, prudential obligations, anti-money laundering and financial crime compliance, designing ongoing internal control frameworks and responding to regulatory reform.
Alice spent a number of years in Hong Kong advising international financial institutions in connection with licensing and prudential matters, banking and securities regulations, virtual asset service provider reforms, anti-money laundering controls and ongoing regulatory obligations.
Background
Alice gained her Bachelor of Laws (Honours) from Deakin University. She is admitted in Victoria.
Experience & expertise
Selected matters
- assisting clients understand their AML/CTF obligations and implement appropriate compliance frameworks including for banks, non-bank lenders, asset managers, superannuation entities and other corporates
- supporting financial institutions through digitisation and transformation projects including updating terms and conditions, considering responsible lending impacts and other NCCP Act implications
- engaging with AUSTRAC to obtain exemptions and modifications to the AML/CTF Act for financial and non-financial businesses as well as engaging with AUSTRAC through remediations
- advising Australian banking clients on their prudential obligations in the management of the institution, including having regard to BEAR requirements and the implementation of FAR
- preparing applications to APRA for the purposes of the Financial Sector (Shareholdings) Act
- advising clients in respect of consumer credit and business lending activities, including responsible lending, hardship, contractual disclosures and compliance with design and distribution obligations, FSCODA and Banking Code of Practice including the expectations of ASIC and AFCA
- updating terms and conditions of banks and other financial institutions for the purpose of the unfair contract terms (UCT) regime
- preparing AFSL applications and the supporting compliance materials for remittance and payment service providers
- preparing AUSTRAC digital currency exchange registration materials for digital asset service providers and advising on the application of regulatory reforms in connection with digital assets
- advising clients engaged in Australian carbon credit unit (ACCU) trading activities on the AML/CTF impacts of these activities and designing appropriate compliance frameworks
- providing ongoing support to clients in connection with FATCA and CRS
Sectors
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