REGULATORY & PUBLIC LAW
Our lawyers are uniquely placed with a combination of litigation expertise (civil and criminal), in-depth knowledge of the regulatory and legal framework of the Cayman Islands and internationally, and expertise in public and administrative law. We assist with legal advice on regulatory issues as they arise in the course of regulated business and provide representation throughout legal proceedings. Claritas advises on both criminal and regulatory contentious matters.
Regulatory Law
Claritas provides regulatory advice and representation at the preliminary stages as well as throughout any ensuing litigation proceedings.
AML regulation is becoming increasingly important and complex. Claritas’ areas of expertise encompass financial crime compliance, including anti-money laundering, counter-terrorist financing, and counter-proliferation financing.
We also advise on conduct of business and prudential requirements for CIMA-regulated entities.
Claritas provides advice and representation throughout the life of a regulated entity and de-registration. We can advise on whether an entity falls within the scope of regulation, and assist in the preparation of applications for licensing and other regulatory applications and requirements.
Utilizing our extensive litigation and advocacy experience, we represent clients in contentious regulatory proceedings, including enforcement actions and regulatory sanctions, judicial review applications and appeals from regulatory decisions.
Claritas can also advise Cayman Islands entities and individuals on obligations under the international sanctions regime. We advise on what prohibitions and restrictions may apply, and what an entity/individual’s obligations are in the event that an actual or potential breach is discovered. We also advise on the licences businesses need to continue commercial operations in compliance with applicable sanctions, and assist with the submission of relevant licence applications.
Claritas principal Elisabeth Lees’ many years of experience at the operational, legislative and policy levels of the regulatory regime means she is uniquely well placed to advise on Cayman Islands regulations relevant to financial services and designated non-financial businesses and professions, while her extensive advocacy experience places her in a unique position to represent clients in contentious matters. Katie Pearson has many years of experience litigating complex disputes before the Financial Services Division of the Grand Court of the Cayman Islands and is therefore well placed to represent clients in contentious regulatory proceedings.
We, therefore, have unrivalled experience and, as a boutique firm we offer pragmatic solutions tailored to the unique requirements of each individual entity.
We also provide customized training to assist in capacity building.
Our sister company Claritas Compliance provides advisory services for entities wishing to review and enhance their corporate compliance programs particularly in relation to systems and controls to prevent financial crime, including preparations for onsite inspections and training. Our extensive experience of investigations, prosecutions and the regulatory framework means we are ideally placed to help corporations with preventative compliance.
Public Law
We advise and act in judicial review applications concerning administrative decisions and sanctions relating to fines imposed and other enforcement actions taken by public agencies relating to the regulation of financial services.
Proceeds of Crime
We advise on Proceeds of Crime Act issues, including account freezing and cash seizure orders. Tackling the flows of illicit finance has become an increasing priority for law enforcement. The money can be frozen if it is suspected to represent the proceeds of crime or suspected to be intended for use in crime whilst the authorities investigate. The impact of restraint and confiscation orders both financially and reputationally has personal and professional consequences. We advise clients affected by such proceedings including applying to have orders varied or discharged.
Mutual Legal Assistance Requests
Requests for Mutual Legal Assistance are a common feature of multi-jurisdictional criminal and regulatory investigations. Claritas provides expert advice to a range of individuals, corporations and governments across the globe. We have unrivalled experience advising clients on MLA requests. Elisabeth Lees was formerly Senior Crown Counsel (International Cooperation) in the Cayman Islands. We assist clients in complying with MLA requests, liaising with the requesting authority to clarify the scope, and dealing with related matters such as privilege.
We have long-standing relationships with the relevant enforcement agencies so we can engage in meaningful dialogue to deal with the complex and unique legal issues that MLA requests can pose.
We also advise governments that wish to initiate requests to obtain admissible evidence or take investigative steps in the Cayman Islands for their own domestic proceedings. We can ensure these requests are appropriately framed and assist in ensuring that the process operates smoothly in the Cayman Islands to obtain this evidence as quickly as possible.
