Regulatory & Financial Services
Unrivalled regulatory insight and experience
Risk management and regulatory compliance principles are constantly changing, internationally and locally. To protect your commercial reputation and viability, such matters need to be handled competently, efficiently and sensitively. As the powers, responsibilities and reach of regulators increase, so does the need to ensure your understanding of your obligations and, more importantly, your rights.
Our Regulatory and Financial Services group has unrivalled experience in the regulatory, disclosure and anti-money laundering fields. We have a knack for distilling technical issues while maintaining a commercial focus. We have optimal relationships with key referring firms in the major global centres and regularly advise and assist a variety of clients from international banks and securities firms to governmental agencies.
We have assisted some of the world's largest financial institutions in establishing a presence in the Cayman Islands, and in fostering their relationship with onshore and offshore regulators. Through our presence on a range of industry associations, our established relationship with regulatory agencies and our involvement with the development of financial service law and policy (both locally and internationally), we can readily draw on this experience to offer prompt, pointed and clear advice to help our clients determine how best to maintain compliance.
We specialise in the following areas:
Regulatory Advice:
- Liaison between the licensee and the regulators on routine and non-routine matters
- Pre/post regulatory inspection advice, including the conduct of enforcement actions
- Application and interpretation of regulatory policy, rules and statements of guidance; e.g. bank credit risk management rules
- Corporate governance and senior management responsibilities including directors' duties for regulated and unregulated entities
- Ongoing regulatory reporting obligations and assistance with the submission of prudential reports and statistical returns (e.g. Basle II QPRs)
- Assisting with the development of business plans, operational manuals and constitutional documentation
- Assistance with regulatory reporting for mergers, acquisitions and reorganisations
Legal Advice:
- Application of licensing laws (banks, trust companies, mutual fund administration, insurance, securities investment business) including assistance with licence applications, exemptions, amendments and surrenders
- Assistance with regulatory reporting for mergers, acquisitions and reorganisations
- Drafting client mandates, account opening forms, subscription and service level agreements
- Assisting with foreign and local disclosure requests for confidential information and advising on duties of confidentiality
- Advice on applicable anti-corruption and sanctions obligations, including reporting and licence exemptions
- Advising in relation to conduct of business and potential registration/licensing implications
- Advising in relation to the extraterritorial effect of foreign legislation
Anti Money Laundering Compliance Advice:
- Advising on the maintenance or delegation of anti-money laundering procedures
- Development and assessment of anti-money laundering and risk management systems
- Advising on suspicious activity reporting obligations
- Conduct of mock regulatory and anti-money laundering inspections
- Provision of advanced anti-money laundering training for compliance and reporting officers
- Consultation on KYC and due diligence best practices
- Provision of KYC information verification and screening services including non-compliant/high risk clients
- Management of fraud and forensic enquiries and investigations
- Conduct of money laundering and fraud proceedings including restraint actions, freezing, confiscation or production orders
- Provision of expert evidence on anti-money laundering and regulatory obligations under Cayman Islands and British Virgin Islands law
Contacts
BVI
Cayman Islands
Dubai
Dublin
Hong Kong
London
With a depth of experience across all regulated sectors, our group could not be better positioned to anticipate and address your needs and sensitivities.