It is a fact of life that all regulated businesses today face ever increasing pressure in the areas of compliance, regulation and risk management. Not only are our businesses required to comply with regulations and laws imposed within each jurisdiction, we need to be alert to impending changes in the UK, EU and elsewhere which could have an impact on the way we operate.
It is vital to ensure that there are appropriate policies and procedures in place to address these risks. In any business this can become a huge burden on staff and managers. Failure to meet the relevant requirements could place your organisation, and potentially your staff, at risk of investigations, prosecution, penalties, civil liabilities and even loss of licence. Our Risk and Regulatory team regularly helps financial services clients protect their most important asset – their regulated status and steer a path through rough regulatory waters. We assist leading international financial institutions across a range of matters, including: regulatory investigations and enforcement; licensing and prohibition actions; and anti-money laundering / countering the financing of terrorism (AML/CTF) and sanctions reporting and compliance.
Collas Crill's multi-disciplinary approach to providing risk and regulatory consultancy services ensures that every aspect of our clients' business is covered. By drawing on the skills and experience of a highly experienced team of lawyers with expertise from across the firm, we are able to deal with all legal compliance issues that could affect your business, whether contentious or non-contentious. The assistance we are able to provide ranges from strategic matters to specific operational issues.
In today's global environment, staying abreast of the latest developments is critical, which is why we regularly provide guidance on best market practice and deliver updates, seminars and training to clients on regulatory, risk and compliance issues. Whatever your needs, we will work with you and tailor our services to meet the requirements of your business for specific issues or transactions or on an ongoing basis.
Collas Crill's market-leading fraud, financial and white collar crime practice sits within our regulatory practice. Uniquely offering a mix of both civil and criminal fraud litigation experience, from internal investigations, to injunctions, to defence and enforcement, the team can lead clients through the most challenging of circumstances.
At Collas Crill, we're used to working as part of a multi-jurisdictional team, capable of reacting and responding quickly to urgent requests for assistance with locating and freezing assets.
As sophisticated defendants become more adept at dissipating assets, we've been involved in cases that created new law in the Channel Islands in relation to a party's ability to trace assets and recover their losses. With their ability to deal with complex issues, the team deliver clear, commercial advice on the availability and likely success of recovery methods.
We are able to advise clients on the establishment and structuring of the full range of regulated service in our jurisdictions. Our experience allows us to shape licence applications to fit regulatory expectations as well as tailoring procedures and processes to reflect the latest and best practices in compliance and corporate governance.
Our services include general regulatory and compliance advice and support, non-financial services regulatory matters including utilities, data protection and corporate governance, due diligence, reviews, audits and health checks. We advise clients from a diverse client base with a focus on the financial services industry including fund administrators, trust companies, banks, investment managers, local companies and individuals.
The regulatory environment both in local jurisdictions and internationally, is increasingly complex and regulatory agencies are becoming more zealous in their approach to enforcement and investigations. We guide clients through the impact of enforcement of investigatory actions by regulatory bodies, offering dedicated strategic advice on a broad range of issues including enforcement notices, governance matters, complaints, insider trading and dealing and market manipulation.
We can also assist clients to conduct internal investigations prior to any regulatory investigations.
We provide contentious and non-contentious advice and support, primarily for local financial services businesses, in complying with sanctions and anti-money laundering regulations. Our work ranges from initial strategic advice, liaison with stakeholders including regulators, clients and investigations and prosecution authorities – to litigation, where required.
Advocates called to Guernsey Bar
Collas Crill Associates Amy Davies and Jazzmin Le Prevost have been admitted to the Guernsey Bar. Amy joined Collas Crill in 2022 and is an Associate in the Dispute Resolution team. Her practice encompasses a range of work, including regulatory, financia...
Luxury assets - regulatory issues
Following our Fast Cars, fake art and $300,000 fish event earlier this year, Collas Crill Partners Wayne Atkinson and Nin Ritchie explore the world of collectibles in our latest 'On the sofa' episode. The collectibles space is constantly changing with ne...
Amendments to the Disclosure Law
Amendments to the Disclosure (Bailiwick of Guernsey) Law, 2007 were approved unanimously by the States of Deliberation on 5 July 2023. Here, Group Partner in our Dispute Resolution team Nin Ritchie explains what these amendments mean: 4E of the Ord...
Collas Crill Compliance Limited is running a series of masterclasses to help MLROs and MLCOs meet additional training requirements ahead of the MONEYVAL visit. The training is delivered by Collas Crill Compliance Limited Executive Director Sandra Lawren...
The Cayman Islands Monetary Authority (CIMA) has issued a new Statement of Guidance on Nature, Accessibility, and Retention of Records (Guidance) which aims to ensure that regulated entities maintain records in a manner that promotes accessibility, reten...
CIMA regulated entities update
The Cayman Islands Monetary Authority (CIMA) released an updated rule in April 2023 in relation to corporate governance for regulated entities (Rule) and associated statement of guidance for mutual funds and private funds (Guidance). The Rule will bring ...
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