Profile
Andrea specialises in financial services, banking and corporate law.
Andrea brings legal capability and insight into regulatory matters, corporate governance, compliance and risk management. She assists her clients to adapt to the changing regulatory landscape to ensure they meet the expectations of their customers and shareholders and regulators.
Andrea’s expertise extends to designing and conducting a broad range of financial services training for financial services providers, their senior executives and responsible managers, legal & compliance officers, consumer advocates and lawyers.
Andrea advises domestic and foreign institutions on acquiring financial services and credit licences and exemptions. She specialises in advising on structuring and establishing financial services and credit businesses including licence obligations, drafting plain English documents, procedures, systems audits and online web application processes. She also advises on regulatory compliance projects and audits, regulatory enforcement defences, and regulator investigations and disputes.
Andrea’s experience includes advising clients on financial products and channels, including FinTech solutions, peer to peer lending platforms, crowd funding, payment systems, crypto currency, reward programs, gift cards and financial services acquisitions, disposals and alliances.
Andrea also has in-depth knowledge of privacy laws and regularly advises clients on data and privacy security and breach remediation.
Andrea has been appointed an AUSTRAC authorised external AML/CTF auditor, regularly developing and conducting independent reviews of AML/CTF programs.
Andrea regularly conducts training programs and full day workshops for clients including Australian Credit Licence and Australian Financial Services Licence compulsory responsible managers training, privacy training, regulatory updates and “Back to Basics” credit law, privacy, anti-money laundering and other training workshops.
Andrea is widely published and her authorships include 6 editions of the leading consumer law text ‘Annotated National Credit Code’ the most recent edition published in November 2019 by LexisNexis, the ‘Australia’ chapters in the ‘Consumer Finance Law Review’ and the ‘Banking Regulation Review‘ (The Law Reviews, Law Business Research Ltd UK).
Andrea is a member of numerous financial services professional associations.
Expertise
Recognition
‘Andrea Beatty and her colleagues have extensive industry experience having worked with numerous financial services and payment system participants over many years. This experience provides them with significant insight into the practical considerations that apply when assisting their clients.’
The Legal 500 Asia-Pacific: Regulatory compliance & investigations, 2020 edition – Testimonials
Accolades
- Chambers and Partners Asia-Pacific – Financial Services Regulation – Band 3 in 2019 edition
- Best Lawyers in Australia – Recognised for Financial Institutions – Since 2012
- Best Lawyers in Australia – Recognised for Privacy and Data Security Law – Since 2012
- Best Lawyers in Australia – Recognised for Regulatory Practice – Since 2012
- Nominated for Euromoney Legal Media Group’s 2013 and 2014 for Australian Women in Business Law Awards for the Banking and Finance practice group
Recent deals and media coverage
Top firms act as fintech start-up sells fast – Australasian Lawyer, 23 January 2019
New fintech sector showcased by crypto acquisition – Lawyers Weekly, 3 January 2019
Podcast: Blockchain’s role in anti-money laundering and counter-terrorism financing – Lawyers Weekly, 25 January 2019
Piper Alderman brings in financial services team – Australasian Lawyer, 15 November 2018
Memberships
- AFIA (Australian Finance Industry Association)
- Online Small Business Code of Lending Practice – Code Compliance Committee member
- Association of Compliance Professionals of Australia – Privacy Interest Group
- Australian Retail Credit Association
- Banking & Financial Services Law Association
- Financial Services Council
- Financial Services Institute of Australasia
- International Association of Privacy Professionals (Aus/NZ)
- Law Council of Australia – Member of the Privacy, Financial Services and E commerce committees
Insights
24 February 2020
It’s raining consultations: What draft legislation has the government dropped in 2020?
Read More19 November 2019
ASIC targets Banking Royal Commission Case Study: Has judgement day begun?
Read More15 October 2019
ASIC to target car yards in newest proposed use of the product intervention power
Read More15 October 2019
Open Banking moving forward with rules released and fintechs chosen for testing
Read More27 August 2019
Restoring Trust in Australia’s Financial System – Financial Services Royal Commission Implementation Roadmap
Read More27 August 2019
APRA applies additional requirements to three major banks in response to self-assessments
Read More26 August 2019
ASIC sues ANZ for misrepresentations and unconscionable conduct over account fees
Read More26 August 2019
ASIC v Kobelt [2019] HCA 18 – Supplying “book-up” credit to an Indigenous community
Read More15 July 2019
ASIC consults on new foreign AFS licencing regime which all foreign financial services providers should...
Read More15 July 2019
ASIC releases Consultation Paper 316 – Using the product intervention power: Short term credit
Read More21 June 2019
Pointing the finger at privacy law: Commission’s new take on when a direction is lawful...
Read More14 May 2019
Fair Work Commission’s surprising interpretation of the Australian Privacy Principles
Read More14 April 2019
Draft legislation to end grandfathered conflicted remuneration for financial advisers
Read More14 April 2019
Design and distribution obligations and product intervention power finally legislated
Read More26 February 2019
ASIC appealing Westpac subsidiaries ‘personal advice’ Federal Court decision
Read More03 December 2018
Dampier Finance fined $240,000 for failing to lodge financial information with ASIC
Read More03 February 2018