- Nick Summerfield
- Financial Services | Insurance
Nick is a financial services expert and leads our national financial services practice.
He advises on all areas of financial services law including investment funds (such as KiwiSaver), insurance (both regulatory and claims matters), capital markets, financial advice laws, and financial service provider regulation. He also advises on the Takeovers Code and NZX Listing Rule compliance, and on dealings with regulators. Nick is actively involved in law reform and advises clients on contemporary issues including conduct and culture, and climate change.
He has a deep understanding of the financial services industry. His clients describe him as “an excellent operator” who delivers “strategic, pragmatic and timely advice,” and regard him as a trusted adviser who takes the time to understand their business.
Nick brings an international perspective to his role, having practiced in Australia and the United Kingdom.
- Nick is recommended in the 2020 Legal 500 Asia Pacific Guide for his work in banking and finance and investment funds.
- Nick was recommended in the 2019 Legal 500 Asia Pacific Guide for his work in banking and finance.
- Advising a specialist fund manager on obtaining a fund manager licence, developing its suite of documents, and establishing and offering a number of new funds.
- Advising a major trans-Tasman financial services provider on new product offerings (in both New Zealand and Australia), the transition of various funds to the Financial Markets Conduct Act regime, and other key projects.
- Acting for issuers and supervisors on more than $2.5 billion in bond issues.
- Advising a number of licensed insurers on policy drafting, distribution, advertising, and claims.
- Advising a major insurer, and a number of fund managers, on conduct and culture issues, including assisting with formal responses to the FMA and RBNZ.
- Advising financial advisers, financial adviser groups, and others on compliance with financial advice laws, including business structuring, disclosure matters, conduct, and law reform.
- Assisting five credit unions with incorporation under schedule 1AA of the Friendly Societies and Credit Unions Act 1982, and related matters.
- Assisting clients with formal and informal interactions with regulators (including the FMA, the Takeovers Panel, APRA, and ASIC).
- Advising offshore financial service providers on New Zealand law, including working with a large number of Australian issuers and their advisers on New Zealand offers.
- Working with a new market entrant to obtain a derivatives issuer licence and establish its business.
- Advising a leading New Zealand-owned fund manager on the establishment of its KiwiSaver scheme and the transition of its full suite of funds to the Financial Markets Conduct Act regime.
- Advising the trustee of a pension plan provided for employees of a large multi-national corporation when a significant portion of its New Zealand business was sold.
- Advising on New Zealand aspects of the Hong Kong listing of a financial services group (New Zealand being a primary operating market for the group).
- Developing and successfully implementing a debt security moratorium proposal for a large financial services business.
- Secondments to major industry participants’ in-house legal teams, including one as acting general counsel.
- Advising clients and other industry participants on law reform matters, including business impact analysis and preparing submissions.
- BCOM/ LLB (first-class honours), University of Canterbury
- 2002 (New Zealand)
- 2014 (Australia)