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Tamanna Islam

Tamanna Islam

Senior Associate

Tamanna specialises in financial services regulation.

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Experience

Tamanna advises on non-contentious financial services regulation and wealth management. Tamanna’s particular focus areas include financial advice and distribution, superannuation, funds, platforms, life insurance, and regulatory strategy on ASIC and APRA investigations and engagement.

Tamanna regularly advises clients on governance and trustee duties, licensee obligations, conflicted remuneration, legacy and rationalisation issues, unfair contracts, disclosure obligations, prudential regulation, regulatory investigations (including misleading or deceptive conduct), and M&A transactions in the financial services sector. She is regarded by her clients as ‘efficient, thorough, considered and clear in her approach’ and ‘exceptional in terms of response time and quality of advice’.

Tamanna has undertaken secondments to the BT Financial Group and the Suncorp Group.

Tamanna’s key recent experience includes advising:

  • Suncorp Group on its $725 million sale of its life insurance arm, Suncorp Life & Superannuation Limited, to TAL Dai-ichi, including the negotiation of a 20 year distribution arrangement in respect of life insurance
  • AMP Life on its separation from the AMP Group following the sale of AMP Life to Resolution Life
  • a range of industry players on reforms and ASIC investigations following the Royal Commission, including anti-hawking, deceased estates, no other role for RSE licensees and ending grandfathered commissions
  • Westpac Group on its wealth restructure, including the sale of part of its financial planning business to Viridian Advisory and negotiation of a client referral arrangement, and the restructure of its superannuation, investments, platforms and insurance businesses
  • Colonial First State, Perpetual, BT Financial Group, Suncorp and a range of superannuation trustees on superannuation successor fund transfers
  • BT Financial Group on the development of its flagship wealth platform, BT Panorama (including Panorama Super)
  • Commonwealth Bank of Australia on the ASIC investigation relating to the distinction between general and personal advice in the distribution of MySuper products via bank channels
  • Westpac Group on its amalgamation of its life insurance companies via a scheme under Part 9 of the Life Insurance Act 1995 (Cth)
  • Suncorp and TAL on the negotiation of material outsourcing contracts as a superannuation trustee

 

Background

Tamanna holds a Bachelor of Arts (Politics and International Relations) and Bachelor of Laws (Honours) from the University of New South Wales.