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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 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.

 

  • 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 26 Jul 2023

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...

News 12 Jul 2023

MLRO/MLCO masterclass series

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...

Insight 22 Jun 2023

Cayman Record Keeping Update

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...

Insight 15 Jun 2023

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...

Insight 19 Apr 2023

On the sofa with... Neil & Quentin

In December 2022, the Guernsey Financial Services Commission (GFSC) published their new thematic review of Business Risk Assessments (BRAs). Though the review was mostly...

Insight 10 Feb 2023

New VASP regulations in Guernsey

The Guernsey Financial Services Commission published its final draft of the Lending, Credit and Finance Rules and Guidance, 2023 (the "New Rules") on Thursday 19 January...

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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 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 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...

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...

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Event 17 Oct 2023

MLRO/MLCO Masterclass #2

This course is now fully booked. You can add your name to the waitlist here. As the Channel Islands prepare for a MONEYVAL evaluation on the efficacy of their AML/CFT/CPF...

Event 14 Nov 2023

MLRO/MLCO Masterclass #3

This course is now fully booked. You can add your name to the waitlist here. As the Channel Islands prepare for a MONEYVAL evaluation on the efficacy of their AML/CFT/CPF...

Event 5 Dec 2023

MLRO/MLCO Masterclass #4

This course is now fully booked. You can add your name to the waitlist here. As the Channel Islands prepare for a MONEYVAL evaluation on the efficacy of their AML/CFT/CPF...

Event 5 Oct 2023

TL4 Private Client Jersey

Group Partner Sam Sturrock in our Jersey Corporate, Funds and Finance team has been invited to speak at the third annual ThoughtLeaders4 Private Client Jersey...

Event 31 Oct 2023

Risk and Regulatory conference

Collas Crill Partners Wayne Atkinson, Michael Adkins and Nin Ritchie along with Sandra Lawrence from Collas Crill Compliance Ltd, will be joined by sanctions and national...

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