We are pleased to announce that Balance Legal Capital has been granted an Australian Financial Services Licence (AFSL) by the Australian Securities & Investments Commission (ASIC) effective from 21 April 2021. We understand we are the first non-Australian litigation funder to be granted an AFSL since new rules introduced by the Australian Government in 2020 required litigation funders to carry an AFSL. Balance is therefore well-positioned to continue to fund new class actions in Australia.
Simon Burnett, Partner, commented: “We’re delighted to have been granted an AFSL. It is a testament to our operational readiness and our ongoing commitment to funding meritorious actions in Australia.”
Balance Legal Capital is delighted to support the Commercial Litigators’ Forum (CLF) once again as a Gold Sponsor.
CLF brings together leading litigators to share insights, foster collaboration, and champion access to justice. Through our support of the CLF, we are proud to support the important work of the National Pro Bono Centre and the wider pro bono community.
Simon’s session explored the role of litigation funding in class actions, particularly from an insurance perspective, where there is still more to be understood around how funding works and the different structures available.
An important and evolving area as the market continues to mature.
Balance were once again honoured to sponsor the Pro Bono and Social Responsibility Award at this year’s Bar Pro Bono Awards, organised by Advocate. It was a fantastic evening recognising the impact of pro bono work across the Bar. The award was skilfully presented by Sarah Abram KC.
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Balance is a member of the Association of Litigation Funders of England & Wales. Our membership of the ALF requires us to satisfy on an ongoing basis stringent financial and capital adequacy tests and to comply with the ALF Code of Conduct.
Balance is a founding member of the Association of Litigation Funders of Australia, and a member of ILFA, the International Legal Finance Association.
Balance Legal Capital LLP is authorised and regulated by the UK’s Financial Conduct Authority.
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