Australia is making sweeping changes to its financial services industry – and that has been a boon for law firms.

The changes have resulted in a spike in work, prompting firms to hire additional risk and regulatory experts. Norton Rose Fulbright hired Danielle Avery and Philip Charlton as senior risk advisers in Sydney last year, for example. And earlier this week, Herbert Smith Freehills brought on Joseph Longo, a former Deutsche Bank general counsel in Hong Kong, as a senior adviser for its financial services regulatory practice in Perth.