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David Court

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David is a Partner working across the financial services and commercial practice areas of the firm.  He has more than 30 years of technical and practical experience in corporate, commercial and financial services law.  His particular expertise relates to the management and public offering of superannuation and managed investment products.

Admitted to Practice

1986

Key Areas of Expertise

  • Over 30 years of technical and practical experience in corporate, commercial and financial services law.
  • Particular expertise in relation to the management and public offering of superannuation and managed investment products.
  • Ongoing interest in taxation law.

Career Achievements

  • Initially David worked as a solicitor at Mallesons Stephen Jaques before moving to a succession of in-house legal roles at Mercer Australia, a market leading financial services organization providing consulting, outsourcing and investment solutions to its clients, as well as operating its own investment and retirement products.
  • At Holley Nethercote David has been involved in all areas of the legal practice with particular focus on providing advice in relation to borderline applications of the financial services laws and the preparation of specialised commercial documentation.

Qualifications

  • Law and Commerce degrees from the University of Western Australia
  • Long-time member of the Taxation Institute of Australia
  • Member of the SMSF Association (SPAA)

Favourite Quote

“Do not use a big word when a diminutive one will suffice!”

My Thoughts

Retail vs. Wholesale Clients – Regulatory Concerns and Responses

23 Jan 20

While there have been some changes to the wholesale client eligibility criteria since 2004, we appear to be reaching a point where a more fundamental reassessment of the distinction between wholesale and retail clients is…

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12 Problem Words for Financial Services Promotional Materials

25 Oct 19

Whatever your financial services business model, you are legally responsible for the content of the promotional material that you publish or otherwise make available in the public arena. This blog looks at the general principles…

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APRA regulatory reporting for general insurance providers

17 Oct 19

Are you an AFSL holder and authorised to deal in general insurance? If so, you should be aware of your obligations to provide data to APRA every six months by lodging a Form 701. What…

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Establishing an SMSF – 7 reasons to use a corporate trustee

05 Oct 19

Like most professional advisers, we are strongly of the view that a self-managed superannuation fund ("SMSF") should have a corporate trustee. This article looks at the trustee requirements for SMSFs and sets out a number…

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The Royal Commission and Wholesale Clients – A Missed Opportunity?

14 Feb 19

The continuing increase in retail client regulation over recent years (such as the FOFA reforms) and the increasing ease with which clients can meet the wholesale client eligibility tests has led many financial services businesses…

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Is the end coming for the Sophisticated Investor?

22 Oct 18

The distinction between wholesale and retail clients is a fundamental part of the financial services laws.  The continuing increase in retail client regulation over recent years (such as the FOFA reforms) and the increasing ease…

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Certified Wholesale – SMSFs and Accountant’s Certificates

14 Oct 17

On 7 July 2017, ASIC issued a media release concerning action that it had taken over a particular example of perceived inappropriate use of accountant's certificates to treat investors as wholesale clients. Although ASIC provided…

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What the Storm Financial case told us about wholesale client eligibility

22 Nov 16

The recent decision of the Federal Court in the Storm Financial case (or, to be legally precise, the case of ASIC v Cassimatis (no.8) [2016] FCA 1023) considers a number of legal issues concerning the…

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