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Risk & Regulatory

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 & 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 AML/CTF and sanctions reporting and compliance.

Collas Crill's multi-disciplinary approach to providing Risk & Regulatory 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.

Furthermore, 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 on-going basis.

 

  • Fantastic to work with; enormously practical and business-minded.
    Chambers and Partners 2020
Risk & Regulatory services
Competition
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We are able to assist local businesses on locally applicable competition laws, including mergers and acquisitions processes and approvals and exemptions, as well as advising on the increasingly complex legislation related to anti-competitive behaviours and agreements between businesses and the abuse of a dominant position in a market.

Data Protection and Information Rights
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Data is the most valuable asset for many of our clients and data protection is a growing facet of offshore business. We have advised a number of institutional clients on their commercial obligations in terms of data security and data protection and regularly provide advice on contract terms in this difficult area. We also have significant experience in using the full range of legal remedies available to obtain access to data and information held, and so are ideally placed to advise clients on either side of the data protection equation.

Environmental Regulation
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Working alongside our highly-rated local property teams we are well placed to advise businesses on all aspects of environmental regulation and legislation including industrial licenses and planning requirements as well as laws related to environmental protection and required minimum standards.

FATCA, CRS and TIEAs
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Collas Crill's Risk and Regulatory Team provide legal support to businesses applying local rules regarding foreign tax reporting and production orders. Our goal here is to ensure our clients remain compliant, while conducting their business efficiently and in line with their clients interests and expectations.

Regulatory Enforcement Action
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The regulatory environment both in local jurisdictions and internationally, is becoming increasingly complex at a time when 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.

Regulatory Investigations and Proceedings
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Collas Crill's market leading Risk and Regulatory team provides full support to financial services clients in all aspects of their interactions with regulators. We have achieved outstanding results for our clients through providing timely advice and representation in the course of an investigation, through to robust representation where this is required.

Regulatory Structuring & Advice
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As part of the firm's multi-disciplinary Risk and Regulatory practice, the Corporate and Commercial team is 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.

Sanctions and AML
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Collas Crill's Risk and Regulatory team 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, investigations and prosecution authorities, and clients – to litigation, where required.

Utilities Regulations
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We work with a number of local utilities assisting them with their work with regulators and pricing control commissioners as well as advising on the effects of proposed changes in legislation, commercial contracts and corporate governance.

Insight 23 Jul 2021

The importance of due diligence

In our latest On the sofa podcast, Of Counsel Nin Ritchie and Collas Crill Compliance's Executive Director Sandra Lawrence discuss the recent judgment in Jersey in relation...

News 15 Jul 2021

Guernsey Revenue Service new powers

The States of Guernsey today approved new legislation giving the Revenue Service significant new powers, creating new obligations in relation to international tax reporting...

Insight 6 Jul 2021

AML/CTF training

Collas Crill Corporate Services Limited (CCCS) provides 'in person' bespoke Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) training to in-scope...

Insight 2 Jul 2021

Cayman economic substance update

We previously published an article in March 2019 on the introduction of the International Tax Co-operation (Economic Substance) Act (2021 Revision) in Cayman ('ES Act'). Our...

News 1 Jun 2021

VASP Regime

The Virtual Asset (Service Providers) Act, 2020 (VASP Act) was enacted on 31 October, following consultation with the Financial Action Task Force. The VASP Act is being...

News 21 Apr 2021

Private Investment Fund Rules

The Guernsey Financial Services Commission has released the Private Investment Fund Rules and Guidance, 2021, updating the original Private Investment Fund Rules, 2016, with...

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Guide 6 Mar 2020

New Registration regime for Cayman Islands Private Funds and Mutual Funds

What has changed? Existing entities which fall within the definition of a Private Fund under the Law have until 7 August 2020 (the 'Transition Period') to register with the...

Guide 18 Feb 2020

Building an efficient and effective risk framework

Concept The risk-based approach is not a new concept, and it allows businesses to develop a proportionate risk framework based on the size, nature and complexity of...

Guide 26 Jul 2019

E-ID as valid evidence of identity in Jersey

The Jersey Financial Services Commission (JFSC) recently updated its AML/CFT Handbook for regulated financial services businesses (Handbook) to expressly permit evidence of...

Guide 13 Jul 2018

Jersey ICO Guidelines

The Jersey Financial Services Commission (JFSC) has published guidance on how ICOs will be approved in Jersey through existing laws and regulation, which has been endorsed...

Guide 9 Dec 2020

Brexit and Guernsey – What you need to know

The UK formally ceased to be a member of the EU on 31 January 2020. Following this, the terms of a withdrawal agreement between the UK and the EU (the Withdrawal Agreement)...

Guide 12 Mar 2019

More lessons on privilege

The English courts have had another busy few months considering the protective scope of legal professional privilege. In the last update in our series of insights on this...

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Event 9 Sep 2021

Financial crime risks

Sandra Lawrence Executive Director at Collas Crill Compliance Limited and Nin Ritchie Of Counsel at Collas Crill will be presenting on Guernsey’s strategic response to...

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