Yechiel Belfer

Special Counsel
Baker & McKenzie

Biography

Yechiel is a Special Counsel in the Melbourne office. His primary focus is in the regulation of financial services and consumer credit. He has more than 12 years' experience in advising a broad range of clients, ranging from established financial institutions to fintechs, both local and offshore.

Practice Focus

Yechiel has extensive experience advising on a range of regulatory matters that impact financial services providers, including in relation to financial services licensing and regulation; credit licensing and consumer credit; anti-money laundering (AML) regulation; payments systems (including stored value cards and eWallets); privacy (including credit reporting); distribution and disclosure (and establishment) of a wide range of banking and financial products; PPSA security interests (Personal Property Securities Act); and funds management (Chapter 5C).

Representative Legal Matters

  • Advised Australian banks extensively on AML, Chapter 7, Privacy and consumer credit regulation.

  • Advised foreign banking institutions on applicability of Australian regulatory regimes.

  • Assisted clients responding to regulators (including ASIC and AUSTRAC) and the Royal Commission.

  • Advised foreign entrants in relation to payment gateways and card acquiring.

  • Advised e-marketplace and money transfer global businesses on FSR and AML in relation to its remittance arrangements.

  • Acted on all matters relating to establishing agency-banking distribution of co-branded credit cards.

  • Advised in relation to transitioning in-store leasing / payment product to wholly online process.

  • Acted on all matters a bank in relation to transition of ETRADE platform and underlying asset restructure.

  • Advised on the development and implementation of wealth management, insurance and superannuation adviser app (with underlying automated rules engine).

  • Licensing of global foreign exchange and derivatives online trading platform and for international dynamic currency conversion provider.

Admissions

  • Victoria~Australia (2006)