Alice Molan is a financial services regulatory specialist.
Alice is a Partner in Herbert Smith Freehills’ leading Australian financial services regulatory practice. She assists 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, anti-money laundering and financial crime, designing ongoing internal control frameworks and responding to regulatory reform.
Alice established her career advising local and international banks and non-bank lenders on Australian regulatory requirements. 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.
Alice gained her Bachelor of Laws (Honours) from Deakin University. She is admitted in Victoria.
Experience & expertise
- engaging with AUSTRAC to obtain exemptions and modifications to the AML/CTF Act for financial and non-financial businesses
- advising banking clients as part of corporate restructures to navigate impacts on AML/CTF arrangements, responsible lending requirements and design and distribution obligations
- advising Australian banking clients on their prudential obligations in the management of the institution, including having regard to BEAR requirements
- preparing applications to APRA for the purposes of the Financial Sector (Shareholdings) Act
- advising clients in respect of consumer credit requirements and the application of the unfair contract terms regime
- representing numerous regulated securities businesses in connection with inspections by their regulator in connection with AML/CTF, corporate governance and outsourcing compliance*
- advising on change of control applications and making relevant submissions to the regulators including in respect of a multi-national bank and insurer*
- providing ongoing support to investment managers to establish and implement compliant regulatory frameworks in respect of AML/CTF, FATCA and CRS and privacy*
- assisting an international bank to effectively respond to a regulator investigation on AML/CTF client due diligence processes*
- creating business unit legal inventories for use by regulated bank and securities businesses*
- undertaking documentation updates for the purpose of consistency with regulatory obligations, including drafting foreign exchange trading terms, securities margin financing documents, securities account terms, banking terms, credit card terms and application forms*
- assisting clients in connection with digital asset sale launches and ongoing compliance obligations*
*Experience gained at a previous firm