Regulatory & Compliance

The regulatory burden continues to grow across all sectors.

Our dedicated regulatory and compliance team combines individuals with legal, commercial and compliance expertise who have wide-ranging and in depth, hands-on practical experience. Members of our team have been actively involved in shaping the development of law and regulation in the Cayman Islands, Guernsey and Jersey.

Our core expertise is assisting financial services clients who provide regulated services, such as trust companies, fund administrators, investment managers, banks and insurers in their dealings with the regulator.

We provide advice in the following areas:

  • Anti-bribery and corruption (ABC) and anti-money laundering (AML) compliance and reporting obligations
  • Competition law
  • Cryptocurrency, blockchain and digital assets
  • Data protection, including GDPR compliance, data retention and security
  • Financial services authorisation and the conduct of business
  • M&A due diligence
  • Regulatory assurance, including reviews and remediation projects
  • Regulatory investigations, enforcement actions and associated criminal proceedings
  • Sanctions
  • Tax information exchange, whether automatic (FATCA, CRS) or upon request (via TIEAs, DTAs or the Multilateral Convention)
  • Utility regulation.
  • They function as a City firm and give good quality advice to clients.
    Chambers 2015
News/Experience
New Cayman bill to expand the definition of 'money laundering regulations'
Regulatory & Compliance 23 Apr 2019 Cayman Islands

If passed into law in its current form, The Monetary Authority (Amendment) Bill, 2019 (‘Bill’) published in the Cayman Islands (‘Cayman’) Gazette, will amend the Monetary Authority Law (2018 Revision) (‘MAL’) to clarify the definition of ‘money laundering r...

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Cayman publishes its data protection regulations and sets a date
Regulatory & Compliance 10 Apr 2019 Cayman Islands

On 2 April 2019 the Cayman Islands ('Cayman') Data Protection Regulations, 2018 ('Regulations') were published in the Gazette, together with a Commencement Order setting a date of 30 September 2019 for the Data Protection Law, 2017 ('Law') to come into forc...

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Cayman confident its task force will bring CFATF progress
Regulatory & Compliance 27 Mar 2019 Cayman Islands

The Caribbean Financial Action Task Force recently published its Fourth Round Mutual Evaluation Report on the Cayman Islands). It assesses Cayman’s progress towards adoption of ever improving international regulations on matters such as anti-money launderin...

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EU reaffirms Cayman's cooperation and adds ten countries to its blacklist
Regulatory & Compliance 14 Mar 2019 Cayman Islands

On 12 March 2019, the European Commission (‘EC’) published its latest list of non-cooperative tax jurisdictions, adding ten jurisdictions to the five already on its list.

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Jersey and Guernsey satisfy the EU on fair taxation and are confirmed as co-operative jurisdictions
Regulatory & Compliance Corporate & Commercial 13 Mar 2019 Jersey Guernsey

Both Jersey and Guernsey fulfilled commitments made in 2017 to introduce substance measures to meet European expectations on fairness of taxation by the end of 2018 and have now been formally confirmed as 'cooperative jurisdictions'.

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Un-civil penalties: the imposition of civil financial penalties on principal persons
Regulatory & Compliance 12 Feb 2019 Jersey

The Jersey Financial Services Commission has published a consultation on extending its decision making process to include the imposition of civil penalties on principal persons.

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Jon Barclay to speak at the ACAMS Cyprus Symposium on 7 February 2019
Regulatory & Compliance 01 Feb 2019 Guernsey

Jon Barclay, Partner, will be speaking at the Anti-Financial Crime Symposium (ACAMS) in Limassol, Cyprus on 7 February 2019.

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Data flows between Jersey and the UK post-Brexit: a Data Protection Update
Regulatory & Compliance 29 Jan 2019 Jersey

Whether there is an orderly Brexit or a no-deal Brexit, from 29 March 2019 the UK will become, in GDPR terms, a 'third country'.

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Cayman economic substance legislation expected to be in force by 1 January 2019
Regulatory & Compliance 18 Dec 2018 Cayman Islands

The Cayman Islands Legislative Assembly is scheduled to debate The International Tax Co-operation (Economic Substance) Bill, 2018 in December 2018.

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Cayman regulation update: New CIMA handbook
Regulatory & Compliance 11 Dec 2018 Cayman Islands

The Cayman Islands Monetary Authority (‘CIMA’) has published its 2018 Edition of its Regulatory Handbook and its Appendices, as well as the latest editions of and amendments to guidance notes and Rules.

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31 December 2018 AML officer deadline: CIMA publishes FAQs for reefs AML forms
Regulatory & Compliance 07 Dec 2018 Cayman Islands

In time to help fund Anti-Money Laundering Officers meet the 31 December 2018 deadline for regulated funds to notify the Cayman Islands Monetary Authority of their appointment of AML Officers, CIMA has published answers to Frequently Asked Questions on matt...

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Cayman data protection regime will now start in September 2019
Regulatory & Compliance 28 Nov 2018 Cayman Islands

At a business briefing on 14 November 2018, representatives of the Cayman Islands Government stated that the Cayman Islands Data Protection Law 2018 would not come in to force in January 2019, as previously advised, but would be delayed until September 2019.

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Cayman government advisory on OECD substantial activity requirements
Regulatory & Compliance 27 Nov 2018 Cayman Islands

The Cayman Islands (‘Cayman’) Government (‘CIG’) has issued an Industry Advisory that the Organisation for Economic Co-operation and Development (‘OECD’) has confirmed that it had extended the ‘substantial activities’ requirement to ‘no or only nominal tax’...

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A new Sanctions Law anticipated in Jersey

Bringing you a brief explanation of sanctions, how Jersey currently deals with them and the reasoning behind a proposed new Jersey Sanctions Law. If you need further advice or help on anything mentioned, please do not hesitate to get in touch with us.

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Jersey and the United Nations human rights treaties
Regulatory & Compliance 31 Oct 2018 Jersey

As we approach the 70th anniversary of the Universal Declaration of Human Rights ("UDHR"), Tom Harris explains the current situation in and future plans of Jersey regarding the various United Nations ("UN") human rights treaties.

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FATF adds new definitions of virtual assets and virtual asset providers to its international standard recommendations
Regulatory & Compliance 29 Oct 2018 Cayman Islands

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CIMA's new Regulatory Policy for Licensing Mutual Fund Administrators
Regulatory & Compliance 11 Oct 2018 Cayman Islands

The Cayman Islands Monetary Authority (‘CIMA’) has published a new Regulatory Policy - Licensing Mutual Fund Administrators which sets out the criteria CIMA will apply in licensing mutual fund administrators.

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Bedell Cristin senior associate recognised in top young professionals list

Jasmin Semlitsch, a senior associate at Bedell Cristin, has been named on eprivateclient’s Top 35 Under 35.

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Bedell Cristin appoints new Partner

Bedell Cristin has appointed Guy Westmacott as a Partner two years after he joined the firm.

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Bedell Cristin advises Comcast on £22bn offer to acquire Sky
Regulatory & Compliance 19 Jun 2018 Jersey

Lawyers from Bedell Cristin have advised Comcast Corporation on the Jersey regulatory aspects of its bid for Sky plc.

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BYOD: Are you responsible for data on your personal device?

With a month to go until GDPR becomes enforceable (25 May), businesses are rushing to get their houses in order, even more so in light of the recent Facebook-Cambridge Analytica scandal. Under the current data protection regime, Facebook should expect to pa...

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CIMA public advisory on virtual currencies
Regulatory & Compliance 25 Apr 2018 Cayman Islands

The last year has seen a considerable growth in the international and Cayman Islands (‘Cayman’) market for investments in virtual or ‘crypto’ currencies and Initial Coin Offerings (‘ICOs’). The Cayman Islands Monetary Authority (‘CIMA’) has issued a ‘Public...

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David Cadin to speak at the JIBS SARs Forum on 27 March 2018
Regulatory & Compliance 20 Mar 2018 Jersey

Managing Partner, David Cadin, will speak at the SARs half day forum at the Jersey International Business School on Tuesday 27 March. This event aims to give a non-legalistic, comprehensive breakdown of the legislation by focusing on common problems facing ...

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Bedell Cristin key speakers at Comsure GDPR surgery
Regulatory & Compliance 25 Jan 2018 Jersey

Bedell Cristin's regulatory law team spoke this morning at the Comsure GDPR surgery at the Pomme D'Or Hotel.

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Bedell Cristin partner Jon Barclay to join panel at the Anti-Financial Crime Symposium taking place on Wednesday 7 February 2018 in Nicosia, Cyprus
Litigation Regulatory & Compliance 15 Jan 2018 Guernsey

This full-day event will focus on current challenges being faced by Mediterranean-based organisations and international finance centres as they seek to detect, prevent and disrupt financial crime in their regions. Against a backdrop of industry-wide demand ...

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Bedell Cristin is shortlisted for Offshore Firm of the Year in the Legal 500 UK Awards 2018
27 Nov 2017 Jersey Guernsey London Singapore BVI

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Guernsey Register of Beneficial Ownership - now live!

The Beneficial Ownership of Legal Persons (Guernsey) Law, 2017 (the "Law") came into force on 15 August 2017.

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Bedell Cristin shortlisted for Law Firm of the Year - Jersey and Guernsey
16 Aug 2017 Jersey Guernsey

Bedell Cristin Jersey and Guernsey have been shortlisted for 'Law Firm of the Year' in the Citywealth IFC Awards 2018.

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Data protection is coming to Cayman in January 2019
Regulatory & Compliance 02 Aug 2017 Cayman Islands

On 2 August 2017 the Cayman Islands (‘Cayman’) Information Commissioner’s Office (‘ICO’) indicated that the Cayman Government’s Data Protection Law 2017 (‘the Law’) is expected to come into effect in January 2019 (see here).

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Here to Guide you through GDPR

There has been a great deal of activity across the Channel Islands because of the pending introduction of the European Union’s General Data Protection Regulation (GDPR).

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Bedell Cristin finalist in two STEP categories
13 Jun 2017 BVI Guernsey Jersey London Singapore

Bedell Cristin is a finalist in two categories of the prestigious STEP Private Client Awards 2017/18.

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Bedell Cristin is shortlisted for Lawyer magazine award
11 May 2017 Jersey Guernsey London Singapore BVI

Bedell Cristin has been shortlisted for ‘Offshore Law Firm of the Year’ in the prestigious annual awards organised by The Lawyer.

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Bedell Cristin Partner to speak at GDPR seminar - What businesses should be thinking about now
Litigation Regulatory & Compliance 28 Apr 2017 Jersey

Bedell Cristin Partner, Edward Drummond is one of the expert speakers discussing the implications of the General Data Protection Regulation (GDPR), the new EU Regime on data protection which will impact on businesses in the Channel Islands when it is introd...

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Bedell Cristin's outstanding service secures European Award
10 Apr 2017 BVI Guernsey Jersey London Singapore

Bedell Cristin has been awarded the Offshore Client Service Award at the prestigious Chambers Europe Awards.

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Preparing for future UK legislation
Litigation Regulatory & Compliance 13 Feb 2017 Jersey

Finance professionals were alerted to future UK legislation focusing on tax evasion and avoidance and wider corporate economic crime in a seminar hosted by us last week entitled ‘Business Ethics – The Bribery Act was just the start…'

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Bedell Cristin Managing Partner to speak at cloud strategy conference
Regulatory & Compliance 08 Nov 2016 Jersey

David Cadin is a speaker at a leading conference on cloud strategies and the impact of new regulation, organised and hosted by Calligo later this month.

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Impressive global line up of law enforcement and compliance specialists at Guernsey conference
Regulatory & Compliance 17 Oct 2016 Guernsey

Leading global authorities on financial crime and compliance are in Guernsey next month for the 2016 Guernsey Compliance and & Economic Crime Symposium hosted by the Jersey International Business School.

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Significant milestone for Bedell Cristin
20 Sep 2016 Jersey BVI Guernsey London Singapore

The management buyout of Bedell Trust has completed following regulatory approvals. As a result, Bedell Cristin is now a wholly separate business to Bedell Trust.

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Bedell Cristin appoints two partners in Guernsey

Bedell Cristin Guernsey has announced that two of its leading lawyers, Advocate Jon Barclay and Advocate Richard Sharp, have become partners in the firm.

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Bedell Cristin appoints new Managing Partner in Guernsey
22 Aug 2016 Guernsey

Bedell Cristin has appointed Advocate Kate Ovenden as the new Managing Partner of its award winning Guernsey office.

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Bedell Cristin assisted LGT with their acquisition of a controlling interest in Vestra Wealth (Jersey) Limited
Regulatory & Compliance 07 Jun 2016 Jersey

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Bedell Cristin partners to speak at Anti-Money Laundering, Financial Crime and Sanctions Conference
Regulatory & Compliance Litigation 07 Apr 2016 Jersey

Bedell Cristin partners, Lisa Springate and James Campbell, have been invited to speak at the Anti-Money Laundering, Financial Crime and Sanctions Conference hosted by Infoline in Jersey, on 26 May 2016.

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The Common Reporting Standard: Jersey Guidance Notes update

Further to our briefing note "The Common Reporting Standard: draft Jersey legislation released" dated November 2015, the Chief Minister's Department has published draft guidance notes dated February 2016 ("Guidance Notes") which provide guidance on the impl...

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The Common Reporting Standard: draft Jersey legislation released

The draft Taxation (Implementation) (International Tax Compliance) (Common Reporting Standard) (Jersey) Regulations 201- (the "Regulations") were lodged au Greffe on 13 October 2015.

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Amendments to Guernsey's company legislation

On 29 July 2015 a number of significant changes to Guernsey's company legislation, the Companies (Guernsey) Law, 2008 (as amended), are expected to be approved by the States of Guernsey.

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Recognition for Bedell Cristin Partners in European legal awards

Two Bedell Cristin partners were recognised as leaders in their field across Europe in the Europe Women in Business Law Awards organised by Euromoney Legal Media Group.

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Bedell Cristin named finalist in STEP Private Client Awards
28 Jun 2015 Jersey

Bedell Cristin has been shortlisted in the prestigious STEP (Society of Trust & Estate Practitioners) Private Client Awards for 2015.

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Bedell Cristin is finalist in leading SE Asia Awards
06 May 2015 Singapore

Bedell has been shortlisted in the ‘Offshore Law Firm of the Year’ category in the prestigious Asian Legal Business SE Asia Awards 2015 for the third consecutive year.

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Bedell Cristin shortlisted for a further award
12 Mar 2015 Jersey

Bedell Crsitin has been shortlisted for a further industry awards adding to the accolades achieved to date this year.

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Bedell Cristin Guernsey wins top captive award for third year
28 Jan 2015 Guernsey

Bedell Cristin Guernsey has been named Offshore Law Firm of the Year in the UK Captive Services Awards 2015.

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New Year begins with series of awards for Bedell Cristin
27 Jan 2015 Jersey Guernsey

Bedell has been recognised in a number of industry awards.

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Bedell Cristin expands banking and corporate teams to meet growth

Bedell Cristin has further strengthened its banking and corporate teams in Jersey through the appointment of two experienced local lawyers.

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Bedell Cristin joins the World Services Group
05 Sep 2014 Guernsey Jersey Singapore BVI London

We are pleased to announce our membership of the World Services Group (WSG) representing both Jersey and Guernsey in the Channel Islands. We are looking forward to working with other member firms and developing our membership.

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Chambers name Bedell Cristin ‘Offshore Law Firm of the Year’
30 Apr 2014 Jersey

Bedell Cristin has been named ‘Offshore Law Firm of the Year’ at the Chambers Europe Awards for Excellence 2014.

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Due diligence

Bedell Cristin has advised on the corporate and regulatory due diligence in respect of several financial services businesses acquired by private equity buyers.

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Regulatory investigations

Bedell Cristin has acted as reporting professional under the Financial Services (Jersey) Law 1998.

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Structures in Trouble

Bedell Cristin has provided advice to the boards and trustees of various funds and other structures which have faced financial and/or regulatory difficulty.

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Financial services product development
Regulatory & Compliance Jersey Guernsey

Bedell Cristin has advised a variety of firms on the development of financial services products.

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Regulatory licensing
Regulatory & Compliance Jersey Guernsey

Bedell Cristin has assisted a number of businesses in obtaining regulatory authorisation.

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Overseas authorities

Bedell Cristin has provided advice to overseas regulatory authorities.

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Regulatory reviews
Regulatory & Compliance Jersey Guernsey

Bedell Cristin has assisted clients in responding to new and evolving legislation and regulation.

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Economic substance rules in the Channel Islands
Briefings | 13 Feb 2019

This briefing aims to give a brief overview of what the new substance rules will entail for those companies tax resident in Guernsey or Jersey.

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Jersey and the United Nations human rights treaties
Briefings | 30 Oct 2018

This Briefing explains the current situation in and future plans of Jersey regarding the various United Nations ("UN") human rights treaties. Please do not hesitate to contact us if you need further explanation or guidance.

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Directors' duties in the wake of Carlyle
Briefings | 22 Dec 2017

On 4 September 2017 Lieutenant Bailiff Hazel Marshall QC handed down her highly anticipated judgment in Carlyle Capital Corporation Limited (in Liquidation) and others v Conway and others.

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EU General Data Protection Regulation
Briefings | 07 Jul 2017

This briefing provides an overview of the key changes introduced by the EU's General Data Protection Regulation (the "GDPR"), which will have extra-territorial effect in the Channel Islands in relation to the personal data of EU citizens, and the provisions...

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Guernsey document and records retention
Briefings | 07 Mar 2017

Over recent years, businesses and employers in Guernsey (as in the rest of the world) have come under increased pressure from legislators and regulators alike to take steps to combat financial crime, including money laundering and terrorist financing. Some ...

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Guernsey register of beneficial ownership
Briefings | 17 Feb 2017

Guernsey's Policy and Resources Committee has recently submitted its proposals for the establishment of a register of beneficial ownership for consideration by the States of Guernsey at its sitting on 15 February 2017. Following consultation papers issued ...

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The Common Reporting Standard: Jersey Guidance Notes update
Briefings | 07 Mar 2016

Further to our briefing note "The Common Reporting Standard: draft Jersey legislation released" dated November 2015 ("November Briefing Note"), the Chief Minister's Department has published draft guidance notes dated February 2016 ("Guidance Notes") which p...

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The Common Reporting Standard: draft Jersey legislation released
Briefings | 04 Nov 2015

The draft Taxation (Implementation) (International Tax Compliance) (Common Reporting Standard) (Jersey) Regulations 201- (the "Regulations") were lodged au Greffe on 13 October 2015. The purpose of the Regulations is to give effect to Jersey's obligations ...

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Bribery and corruption - Guernsey
Briefings | 18 Aug 2015

Historically, the law against bribery in Guernsey and Sark consisted of a common law offence which was rather uncertain in its ambit and seldom, if ever, tested in court. The position in Alderney was similar, albeit reinforced to some extent by a 1994 statu...

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The deep freeze: the growing impact of sanctions on Jersey
Briefings | 20 Jan 2015

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BVI FATCA update
Briefings | 06 Jun 2014

The Foreign Account Tax Compliance Act ("FATCA") was introduced by the United States in 2010 as part of the US Hiring Incentives to Restore Employment Act (known as the HIRE Act). The purpose of FATCA is to reduce tax evasion by US citizens. FATCA requires ...

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Financial services regulation in Jersey
Briefings | 15 Jan 2014

Jersey's reputation as a leading international finance centre has been assisted by being a well-regulated jurisdiction which applies global standards upon which clients and investors alike can rely. Jersey has been independently assessed by a number of supr...

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Bribery and corruption - Jersey
Briefings | 19 Sep 2012

This briefing explains the laws governing bribery and corruption in Jersey. Jersey has its own legal system and is a separate jurisdiction from that of England and Wales. To combat bribery and corruption, it enacted the Corruption (Jersey) Law 2006 (the "C...

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Money Laundering (Jersey) Order 2008 - individual client identification
Briefings | 07 Oct 2010

In order that we are able to act for you, the Money Laundering (Jersey) Order 2008 requires us to obtain certain information about you.

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Extract Jersey chapter - International Guide to Money Laundering Law and Practice 5th Edition
Books | 22 Mar 2018

This chapter by David Cadin is taken from the International Guide to Money Laundering Law and Practice (5th Ed) due to be published by Bloomsbury Professional later this year.

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GDPR and the Cayman data protection law
Articles | 07 Dec 2018

Rob Humphries, Associate, determines what Cayman captives and insurance managers should consider in relation to GDPR and the new Cayman data protection law. Published in Captive Review Cayman Report 2019

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Good things always come in threes
Articles | 18 May 2017

Richard Le Liard, senior associate, presents a round- up of recent regulatory developments. Published in the JEP Funds Review - 18 May 2017.

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Rage against the regime
Articles | 03 Aug 2015

With global financial sanctions now reaching an unprecedented level, Angela Bilbow casts a view over the consequences sanctions have on Channel Islands financial institutions, how they are being tackled and what lies ahead.

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Jersey: growing impact of sanctions
Articles | 09 Mar 2015

Lisa Springate discusses - Jersey: growing impact of sanctions. Published in Legal Week 13 February 2015.

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Litigation: The deep freeze: the impact of EU and US sanctions on Jersey
Articles | 23 Jun 2014

Lisa Springate looks at the impact on EU and US sanctions on Jersey. Published in Quorum Newsletter June 2014.

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Litigation: Lisa Springate comments on the impact of sanctions on Jersey for Legal Week
Articles | 02 May 2014

Litigation: Lisa Springate comments on the impact of sanctions on Jersey for Legal Week

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