Simun Soljo

About Simun Soljo

Simun is an expert in financial services law, with a focus on superannuation and investment platforms, life insurance, financial advice and payments. He acts for trustees and platform providers, banks, insurers and advice groups, advising on their most significant transactions and contractual arrangements, regulatory implementation projects and investigations.

Simun also regularly publishes and presents on developments in financial services law and regulation, and is a member of the UNSW Law & Justice Advisory Council.

Simun's recent experience includes providing advice in relation to:

Financial services transactions

• BT/Westpac Group: the transfer of BT’s personal and corporate superannuation funds to Mercer Super Trust, and the sale of Advance Asset Management to Mercer Australia
• AustralianSuper: its mergers by successor fund transfer with LUCRF Super and Club Plus Super
• UBS: the Australian aspects of UBS's acquisition of Credit Suisse, including obtaining Treasurer approval
• Commonwealth Bank: the sale of its Australian general insurance business and related exclusive 15-year strategic alliance with the Hollard Group
• LGT Crestone: its acquisition of CBA's personal advice business (Commonwealth Private Advice).

Regulatory

• APRA CPS 230: a number of trustees and insurers on implementation of APRA's Prudential Standard CPS 230 – Operational Risk Management
• Design and Distribution Obligations (DDO): a number of major financial institutions on implementation of the DDO regime and on responses to regulatory investigations of DDO compliance
• Breach reporting: trustees and banks on the implementation of the new reportable situations regime, including updating policies and procedures, advising on reportability of incidents and liaising with regulators
• Unfair Contract Terms (UCT) regime: trustees and platform providers, banks and insurers on implementation of the UCT regime, including updating of contractual terms and disclosures
• Regulatory investigations and enforcement: a number of clients and worked closely with litigation colleagues on regulatory investigations and enforcement proceedings.

Contract negotiation

• Administration agreements: a range of financial institutions on negotiation of new outsourced administration arrangements
• Distribution agreements: a number of financial product issuers (including trustees and insurers) on distribution arrangements, including FOFA implications of remuneration structures
• Life insurance arrangements: trustees on negotiation of insurance policy terms and associated administration arrangements
• Payments services: payment service providers on new contractual arrangements with schemes, service providers and customers.