Cayman Islands Regulatory & Risk Advisory

Count on us to provide calm, authoritative guidance on all your Cayman Islands regulatory compliance and legal risk management requirements. We can help you with everything from proactive guidance, insight into Cayman Islands regulatory updates and dealing with regulatory bodies to advising on investigations and providing robust representation where litigation arises.

As the regulatory environment continues to tighten and become more complex and with stronger enforcement by regulators, your dedicated Conyers Regulatory & Risk Advisory team can assist you with our comprehensive Cayman Islands compliance consulting and litigation capability. We aim to support our clients at all points of contact involving regulation, from advising on policy and compliance through to counselling on investigations, should that be necessary, and representing you in disputes with the Cayman Islands regulatory authority.

Our Regulatory & Risk Advisory team comprises lawyers who have extensive expertise in both corporate law and litigation, offering you an overarching perspective on regulation and providing peace of mind in what can often be highly fraught situations, supported by our Cayman Islands regulation financial lawyers. Our team is headed by experienced litigator and regulatory specialist Róisín Liddy-Murphy, a leading regulatory lawyer in the Cayman Islands.

We have specialist expertise in and knowledge of the regulatory environment in many key sectors, including insurance, funds, banking, investment advisory, virtual asset services and trusts and private clients, ensuring comprehensive Cayman Islands compliance solutions.

Our services

Conyers’ Regulatory and Risk Advisory team can help you understand and manage all of the regulatory requirements for business operations in the Cayman Islands, including:

CIMA Licensing and Ongoing Advisory and Regulatory Work

• Advising on all aspects of CIMA registrations and licensing
• Ongoing Cayman Islands regulatory compliance requirements for licensees across all areas including corporate governance, client asset protection and capital requirements
• CIMA filings
• Advising on the administrative fines law
• Cayman Islands regulatory enforcement and negotiating regulatory settlements
• Onsite and offsite inspection and advising on potential exposures
• Mock regulatory inspections and regulatory reviews to support Cayman Islands compliance audits

Automatic Exchange of Information Regulatory Review, Classification and Reporting

• FATCA classification and reporting
• CRS classification and reporting
• BEPS Country by Country reporting
• Cayman Islands regulatory enforcement actions

Economic Substance

• Economic Substance classification and reporting
• Economic Substance penalty and compliance notices and enforcement actions

Beneficial Ownership

• Beneficial Ownership maintenance of registers
• Assisting on Cayman Islands breach notices and enforcement actions

Anti-Money Laundering/ CFT/ Sanctions Procedures and Requirements

• Advising on AML/CFT Laws and Procedures
• Advising on SARS
• Assisting drafting manuals and best practice guidance
• Assisting with Know Your Client Due Diligence Requirements
• Assisting with mock regulatory Cayman Islands AML and CFT training reviews
• Management of fraud/forensic enquiries
• Advising on sanction requirements and specific licence applications

Corporate Governance and Internal Controls

• Advising on board composition and board assessments
• Advising on and assisting with succession planning and remuneration practices
• Advising on fitness and propriety
• Advising on senior management responsibility
• Advising on appropriate reporting structures and overall training

Confidentiality Laws

• Advising on data protection laws
• Advising on extraterritorial reach of foreign data protection laws
• Advising on data processing agreements
• Advising on confidentiality requirements generally

Fund Advisory Regulatory Services

• Advising on regulatory filings and licensing requirements
• Advising on AML/Licensing Policy Procedures
• Advising on ongoing best practice procedures
• Assisting with internal audits

Administrative Fines Act, Regulation and Compliance

• Advising on Cayman Islands administrative fines
• Liaising with the Cayman Islands’ regulators and enforcement agencies
• Interpretation and application of regulatory policy (under rules, regulations, CIMA’s Regulatory Handbook, CIMA’s Enforcement Manual, and statements of guidance)
• Legal and regulatory reviews and reports
• Legal and regulatory training

Contentious

The Regulatory & Risk Advisory team acts for clients on contentious regulatory matters, both domestic and international, including:

• Advising on regulatory investigations
• Advising on regulatory enforcement matters
• Advising on regulatory production orders