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Jim Bulling

Partner
+61.3.9640.4338
Fax +61.3.9205.2055

Mr. Bulling's practice focuses on banking and financial services and he acts for a range of entities in the financial services and funds management industry. His clients include Australian and international investment managers, banks, trustees of superannuation funds, wholesale and retail investment trusts, funds management companies and financial planning groups.

His main areas of focus include banking and financial product disclosure issues, financial services compliance issues, Fintech, financial product distribution issues and superannuation and funds management.

Mr. Bulling also provides advice on governance issues targeted at prevention of bribery and corruption and regularly prepares papers and presents on issues relating to emerging banking and financial services issues.

Mr. Bulling is an editor and regular author of our global Fintech blog 'Fintech Law Watch' - www.fintechlawblog.com.

Mr. Bulling is also a Recognised Practitioner by Chambers Asia-Pacific (2019) for Financial Services Regulation.

Professional Background

Prior to joining K&L Gates, Mr. Bulling was a senior partner at a large Australian law firm and worked as in-house counsel for a large Australian funds manager and an investment bank.

Achievements

  • Recognised in the 2019 Chambers Asia-Pacific (Australia) Legal Directory Rankings for Financial Services Regulation

Professional/Civic Activities

  • Australian Superannuation Funds Association (ASFA) - member of Consumer Governance and Regulatory Policy Council
  • Australian Centre for Financial Studies – member of Fintech Steering Committee

Speaking Engagements

  • Presentations to Leo Cussens Institute on contemporary issues for superannuation funds in Melbourne, October 2019 and April 2020.
  • Presentations regarding Enforcement in Financial Services post Royal Commission in Sydney and Melbourne, May and June 2019.
  • Presentation to Fordham and their clients on financial product impact of the Royal Commission in Melbourne, June 2019.
  • A series of presentations to financial planning groups in Brisbane, Adelaide, Sydney, Perth and Melbourne, February to May 2018 in relation to ASIC surveillance and enforcement initiatives.
  • Presentations to superannuation funds in Melbourne and Sydney in relation to dealing with the Royal Commission enquiry, February and March 2018.
  • Artificial Intelligence and the Law – Australian Lawyer Legal Tech Summit, Sydney, December 2017.
  • Open Bank Data – Money2020 Roadshow, Sydney, December 2017.
  • Fintech Innovation – Finsia Seminar, Sydney, October 2015.
  • "Disruptive Technologies in Financial Services," K&L Gates Breakfast Client Seminar, March 2015.
  • Financial Services Update – Australian Corporate Lawyers Association, Melbourne, October 2013.

Additional Information

Publications
  • COVID-19: (Australia) Government and Regulator Responses for Superannuation Funds and Fund Managers (updated), 6 May 2020
  • COVID-19: (Australia) Government and Regulator Responses for Superannuation Funds and Fund Managers, 7 April 2020
  • ASIC Publishes Final Guidance for Foreign Financial Service Providers, Australia Financial Services Alert, 6 April 2020
  • Enforcement - A New Environment, 20 August 2019
  • ASIC Changes Course on Proposals for Relief for Foreign Financial Service Providers, Financial Services Alert, 11 July 2019
  • Royal Commission Report – Life Insurance and General Insurance, 25 February 2019
  • Royal Commission Report – Financial Advice Businesses, Financial Services Alert, 15 February 2019.
  • "Life Insurance – Some Sales Tactics Exposed", Legal Insight, 11 October 2018.
  • "Design and Distribution Bill: A Reflection of the Current "Consumer Centric" Climate", Legal Insight, 5 September 2018.
  • "What Will a Successful Financial Advice Business Look Like in 2020?", Legal Insight, 25 June 2018.
  • "Reporting Entities Beware: AUSTRAC is Becoming More Active and Getting More Powers", Legal Insight, 27 October 2017.
  • Financial Product Design and Distribution Obligations, 12 July 2017.
  • "Mortgage Brokers Remuneration Reforms – What We Need to Know", Legal Insight, 2 June 2017.
  • "Merger matters", SuperFunds, May 2017.
  • Reminder: Fee and Cost Disclosure – RG 97 Extension, Investment Management, Hedge Funds and Alternative Investments Alert, 31 January 2017.
  • “FinTech in Canada,” Digital Finance Institute and McCarthy Tétrault LLP, 2016.
  • Global Government Solutions® 2016 Mid-Year Outlook, July 2016
  • "Investment Management Business in Australia" The Investment Lawyer Vol. 22, No. 8 August 2015.

  • Advising superannuation funds in relation to outsourcing issues.
  • Advising superannuation funds in relation to remediation of unit pricing errors.
  • Advising superannuation funds in relation to managing conflicts.
  • Advising superannuation funds on governance and regulatory reforms
  • Advising superannuation funds in relation to mergers and successor fund transfers.
  • Advising superannuation funds in relation to investment management agreements.
  • Advising superannuation funds in relation to investment in illiquid assets.
  • Advising superannuation entities regarding the delivery of financial product advice to members.
  • Assisting a range of industry participants respond to the Stronger Super and Future of Financial Advice regulatory reforms.
  • Acting for an Australian bank in connection with financial product design disclosure and distribution.
  • Advising an Australian bank in connection with margin lending issues.
  • Establishing a wholesale quantitative hedge fund investing in Asian equities, including preparing disclosure documentation and negotiating prime brokerage arrangements.
  • Advising a US fund manager and an Ireland domiciled Undertakings for Collective Investment in Transferable Securities (UCITS) fund on the Australian financial services regulatory regime, including the types of activities which could be conducted without formal licensing.
  • Assisting a U.S. fund manager in its application to Australian Securities and Investment Commission (ASIC) for Class Order Relief.
  • Assisting a U.S. fund manager in its application to ASIC for a variation to its Australian Financial Services Licence (AFSL).
  • Advice to a Singapore funds manager in connection with its establishment of a Managed Investment Trust in Australia.
  • Assisting a UK alternatives fund manager to obtain relief from the AFSL regime in connection with the inclusion of its managed futures strategy on an Australian investment platform.
  • Advising a global payment facility provider on the Australian regulation of non-cash payment facilities and assisting it to respond to inquiries from ASIC.
  • Representing a New Zealand based entity in establishing a peer to peer lending platform focussing on consumer loans including negotiating regulatory approvals. 
  • Assisting a wholesale crowdfunding platform obtain an AFSL and advising on authorised activities. 
  • Advising an offshore stored value card provider on the financial services regulatory regime in Australia.
  • Assisting a multinational manufacturing company respond to bribery/Foreign Corrupt Practices Act investigations and enforcement activity and assisting the entity to implement compliance processes.
  • Advising an Australian bank on lending to self managed super funds.
  • Advising managed investment schemes on security liquidity and compliance issues.
  • Advising financial planning groups on investor responses to market failures.
  • Advising fund managers and distribution groups in connection with regulatory reform to fees and charges.
  • Advising friendly societies on investment, disclosure and compliance issues.
  • Advising consumer brand companies in relation to sale of extended warranty and insurance products.
  • Assisting various financial services entities apply for and vary AFSL and Registrable Superannuation Entity (RSE) licences from Australian Prudential Regulation Authority (APRA).
  • Assisting a number of clients establish wholesale investment funds, including funds investing in equities, property development, construction and offshore mortgage funds. 
  • Preparing financial product distribution arrangements for the distribution of financial products and investment platforms by various intermediaries, including dealer groups, advisers, retailers and referrers.
  • Assisting AFSL holders in connection with the appointment of financial planning practices and drafting template agreements.