Michael Bracken

Michael Bracken is a Director and Head of Cowell Clarke’s Financial Services team.

Michael is an expert in all areas of financial services and products, financial markets, financial institutions, regulation and governance as well as conventional compliance such as licensing, disclosure, product development, distribution and marketing.

He has a passion for fintech and the digital economy, advising clients on the development and launch of innovative financial products and solutions. Michael guides clients through this complex process helping them overcome legal, regulatory and financing challenges. He provides strategic, pragmatic, and solutions-focused advice, and takes a collaborative and commercial approach when working with his clients.

Michael’s depth of expertise spans the full spectrum of the life cycle of a financial services business and the operations of financial sector participants, including corporate advisory, transactional, corporate governance, regulatory and prudential compliance. He advises Boards and directors on risk and liability associated with the financial services business, product offering, transactions and operations.

Michael supports financial services licensees and financial market participants, fund managers, and financial institutions with strategic legal guidance, which is tailored to the specific financial services market sector and client business including regulatory and policy reform and assists in navigating regulatory change and its impact on the financial services business life-cycle, corporate and prudential governance and liaising with market regulators such as ASIC, APRA, AFCA, RBA/Treasury and AUSTRAC. ACCC, ASX and the Markets Disciplinary Tribunal.

Michael prioritises clear communication, proactive risk management, and tailored guidance to support sustainable business growth and regulatory compliance.

Expertise Capabilities

Full-service expertise in:

• Financial Services Law

• Regulatory, Compliance & Corporate Governance

• Distribution, marketing, strategic alliances, intermediation and disintermediation

• Licensing and Disclosure, product and offer documents

• Banking, Payments & Digital Economy

• Insurance, Mutuals, Private Health Funds & MDOs

• Risk Management, risk advisory and regulatory policy. Financial Institutions corporate and board governance and director liability

• Foreign Financial Services, Financial Products & Markets – Domestic & Global

• Investment Funds and Managed Investment Schemes

• Corporate & Transactions including capital funding, M&A, corporate compliance and restructuring

• ESG & Greenwashing Compliance

• Digital Transformation, Fin-tech & Innovation in Financial Services including start-ups, digital products and emerging digital assets

• Regulatory breach and regulatory investigations and enforcement including data breach and AML CTF

Experience

• Insurance Merger & Acquisition: Advised a UK-listed multinational insurer, on Australian regulatory, due diligence, FIRB, transactional, and post-completion matters relating to its acquisition of a Lloyd’s syndicate advancing its international growth strategy.

• ASIC Regulatory Enforcement: Advised Funds Management Group on the suspension of its AFS licence, ASIC’s investigation into governance and reporting obligations, and negotiations leading to restoration of its licence.

• Banking Fintech and Financial Product Design: Advised Financial Services fintech disruptor on legal and prudential aspects of its innovative equity mortgage product, an equity release product generating annuity-like returns. Provided specialist guidance on regulatory capital and indicative ADI risk weighting in Australia.

• Payments Regulation and AML/CTF Compliance: Advised a payment solutions company on AML/CTF compliance, enhancing governance, updating AML CTF Program, implementing tech-driven customer verification, and supporting reporting and monitoring obligations with AUSTRAC.

• Capital Raising: Advised a private construction group on capital raising and investment options for shareholder exits, including new share issuance and buybacks. Provided guidance on disclosure exemptions, ASIC Class Order for low-volume markets, and managed generational equity transfer.

• Mutual Bank Corporate and Prudential Governance: Advised a leading mutual bank on updating its Constitution to align with current legal and regulatory standards. Provided specialist guidance on corporate governance, prudential regulations, mutual capital instruments, financial services licensing, and director legal and prudential obligations.