Motor vehicle finance is firmly back on the agenda for regulators.
ASIC is currently conducting a review into the motor vehicle finance sector with the aim to drive better consumer outcomes, particularly for those living in regional and remote locations, including First Nations communities.
In the UK, the Supreme Court recently concluded its hearing on motor finance commissions, and consumer outcomes are being addressed by the Financial Conduct Authority's enforcement of the Consumer Duty and the UK Competition and Markets Authority's new direct consumer enforcement powers.
Throughout this session, Ashurst's legal and regulatory specialists in Australia and the UK will cover ASIC's approach, share lessons from the UK, including predictions for the UK Supreme Court's pending judgment, and provide insights on other current developments in the UK market and how these might influence the Australian regulatory landscape.
Liz Hristoforidis, Partner, Regulatory Risk, Ashurst Risk Advisory, is a regulatory change and intervention specialist with extensive experience over nearly two decades at ASIC, where she worked across almost all of its domains—from licensing to policy development, supervision to enforcement, and strategic planning and performance reporting to regulatory transformation. Immediately before joining Ashurst's Risk Advisory Practice in July 2021, Liz played a pivotal role in establishing ASIC's institutional supervision approach, and led the supervisory teams responsible for the 'close and continuous monitoring' of two of the Big 4 banks and another major institution.
Lorraine Johnston, Partner, Finance Regulatory, Ashurst, works with institutions across the financial sector, including banks, asset managers, brokers and others, specialising in a broad range of conduct and technical matters. Lorraine has a particular focus on the retail and private banking sector including lending, mortgages and investment products. Lorraine has extensive expertise on conduct and governance issues, having led the widest report on the UK's senior managers and certification regime to date. She is currently heavily involved with clients on their implementation of the Consumer Duty, the biggest change to UK retail regulation in a generation.
Tim West, Partner, Dispute Resolution, Ashurst, is an expert in helping clients to resolve high profile, complex commercial disputes and contentious regulatory issues. Tim’s significant commercial litigation experience is across a number of sectors, including the banking, automotive, energy, tech and pharmaceutical sectors. Tim has also acted for clients in high profile public inquiries, defending clients against court proceedings brought by regulators, and in insolvency litigation.