Harneys' BVI-based regulatory practice continues to secure a leading role in advising both regulated and non-regulated entities on anti-money laundering and terrorist financing compliance, financial services regulations, sanctions, data protection work and economic substance issues. The global regulatory and tax team is headed up by Philip Graham, whose focus is on trust company and insurance regulation, and BVI enforcement actions. Joshua Mangeot is noted for advising on BVI economic substance requirements, especially in the banking and technology sectors, while counsel Ayana Hull specialises in licensing, continuing obligations and regulatory and enforcement actions, and leads the BVI regulatory practice. Senior associate Kimberly Seagojo is also highly recommended.
Regulatory and compliance in British Virgin Islands
Harneys
Responsables de la pratique:
Ayana Hull; Philip Graham
Autres avocats clés:
Joshua Mangeot; Kimberly Seagojo
Les références
‘Very responsive; user-friendly practical advice.’
‘Knowledgeable on BVI corporate, investment funds regulatory and sanctions compliance issues.’
‘The Regulatory team at Harneys is the best there is for BVI in my opinion.’
Principaux clients
Midis Group
Superior Lodging Corp.
Ogier
Ogier’s ‘remarkable ability to navigate complex legal matters with finesse’ makes it a standout in the BVI regulatory and compliance market, routinely advising fintech players and high-profile virtual asset service providers on blockchain technologies, initial coin offerings (ICOs) and token issuances. Regulatory advice, investment business licensings, registrations and anti-money laundering compliance work are further core workflows of the practice, which is led Michael Killourhy, who is noted for his ‘proactive and insightful approach’ to regulatory and compliance issues. Head of the funds and regulatory practice Simon Schilder regularly advises on regulatory applications to the BVI Financial Services Commission. while Ray Wearmouth is a seasoned transactional lawyers known for leading complex multi-billion transactions. Praised for his ‘unparalleled grasp of the fintech sector’, managing associate David Mathews is also highly recommended.
Responsables de la pratique:
Michael Killourhy
Autres avocats clés:
Simon Schilder; Ray Wearmouth; David Mathews
Les références
‘Their uniqueness lies in their unparalleled expertise, unwavering dedication and exceptional understanding of the market dynamics. The team’s strengths and key capabilities encompass a remarkable ability to navigate complex legal matters with finesse, ensuring optimal results for their clients. I would wholeheartedly recommend them to anyone seeking regulatory and compliance lawyers in the BVI. Our go to team in this space.’
‘Working with David Mathews is an absolute pleasure. His unparalleled grasp of the fintech sector sets him apart from others. As clients, we have benefited immensely from his out-of-the-box thinking, which has proven invaluable on numerous occasions. Notably, his meticulous attention to detail shines through in the documents he drafts, even when handling highly intricate matters, ensuring clarity and comprehension.’
‘Michael Killourhy is an exceptional partner and legal professional. His expertise in the offshore world, particularly in regulatory and compliance law, is truly commendable. His vast knowledge and years of experience have made him a standout in the field, consistently delivering solutions to complex legal matters. His proactive and insightful approach to navigating regulatory challenges has proven invaluable time and again.’
Principaux clients
1GCX
Amino
Bank of America, N.A.
CEDEN Network
ChainSafe
Emergent Games
J.P. Morgan Alternative Asset Management, Inc.
Joint Liquidators of Three Arrows Capital, Ltd
Lago Consortium
Nexon Co, Ltd.
Oxbridge RE
Snapmuse Müzik Teknolojileri A.S.
Société Générale Americas
State Street Bank and Trust Company
Van Eck Associates
Vokal Media
Worldcoin Foundation
Principaux dossiers
- Advised Oxbridge Re on all BVI virtual asset, insurance and other financial services regulatory aspects of the structuring and offering of tokenised collateralised reinsurance securities through its BVI subsidiary SurancePlus Inc.
- Advised Worldcoin Foundation and Tools For Humanity on the virtual asset and other financial services regulatory aspects related to the creation of its Worldcoin token.
- Advised the Joint Liquidators of Three Arrows Capital on BVI investment business, investment funds, virtual asset and other financial services regulatory matters.
Walkers BVI
Spearheaded by fintech regulation expert Lucy Frew from Cayman, Walkers BVI assists a varied client base across the banking, insurance and reinsurance, and investment sectors on a host of financial regulation and risk management issues, as well as contentious and advisory matters. Data protection, cross-border compliance and risk management specialist Sara Hall is based in London and is known for advising on OECD compliance, while senior counsel Iona Wright, who is the primary contact based in the BVI, is praised by clients for her knowledge of financial services regulatory matters, governance work and corporate transaction regulatory support.
Responsables de la pratique:
Lucy Frew
Autres avocats clés:
Sara Hall; Iona Wright
Les références
‘From start to finish, the Walkers team demonstrated an unparalleled level of professionalism, expertise, and dedication that truly set them apart.’
‘‘Throughout the legal process, Lucy Frew (Partner) demonstrated an impressive blend of professionalism and approachability. She was available to address my questions and concerns, providing timely updates and ensuring that I was well-informed every step of the way. Their communication skills are truly commendable and her advice was very commercial.’
‘Iona Wright and her team were very thorough, diligent and detail oriented. They had a good pulse on the current regulatory environment as well as what changes to keep an eye out for. The sector our company operates in is fast changing and often volatile, but the Walkers team we worked with was well versed in supporting us.’
Appleby
Praised for its ‘exceptional subject matter expertise and experience in digital assets and fund work’, Appleby‘s BVI regulatory team is spearheaded by Jeffrey Kirk and regularly advises clients in the emerging technologies, virtual asset and data management sectors on a host of regulatory issues related to blockchain, cryptocurrencies and digital assets. ‘Blending regulatory knowledge with commercial savvy’, Andrew Jowett divides his time between Jersey and the BVI and advises on securities and investment business, fintech, blockchain, digital asset and crypto mandates and the tokenisation of real world assets, while counsel Stuart Fee‘s broad practice encompasses the regulatory elements of blockchain-based token offerings, DeFi structures and smart contract projects. Shana Simmonds handles regulatory issues relating to corporate transactions, and senior associate Brittany Cummings is another key name for corporate-related regulatory matters.
Responsables de la pratique:
Jeffrey Kirk; Andrew Jowett
Autres avocats clés:
Stuart Fee; Brittany Cummings; Shana Simmonds
Les références
‘The Appleby team is experienced, thoughtful and responsive. They are capable of efficiently adapting to the role, regardless of the size. They provide clients comfort through rapid response, clear communication and deft drafting.’
‘Andrew Jowett is an ideal collaborator, blending regulatory knowledge with commercial savvy. Andrew takes pains to achieve consensus yet maintains his independence and direct client relationship. He has challenged assumptions where he believed appropriate but always in a collaborative fashion.’
‘The team has exceptional subject matter expertise and experience in digital assets and fund work, which spans multiple Caribbean jurisdictions. They are also extremely cost-effective.’
Principaux clients
Bitfinex
Hyperedge Technology Ltd
LedgerPrime
Tether
Joyfa Inc.
Oanda Corporation
Hidden Road Partners L.P.
Arbelos Ltd
Monetalis Services Limited
Blue Carbon Project
Karate Kombat
Fractal Network Ltd.
Carey Olsen
Carey Olsen continues to provide comprehensive advice to leading trust companies, funds and corporate clients on a range of contentious and non-contentious regulatory and compliance issues spanning virtual asset legislation and economic substance compliance. The team fields experienced practitioners including co-heads Clinton Hempel and Elizabeth Killeen, and acts for a varied client roster of trust companies, financial institutions, public and private businesses, and high-net-worth individuals. Counsel Jude Hodge is well versed in regulatory compliance, economic substance issues and anti-money laundering legislation.
Responsables de la pratique:
Clinton Hempel; Elizabeth Killeen
Autres avocats clés:
Jude Hodge
Principaux clients
Keyway (BVI) Limited
BF Virtual Assets Ltd.
FXAQ Ltd.
Principaux dossiers
- Advised Keyway (BVI) Limited on attaining a Class III Trust licence from the BVI Financial Services Commission.
- Advised BF Virtual Assets Ltd. on BVI legal and regulatory matters in respect of certain fintech-related activities that it carries out, including preparing BF Virtual’s AML/Compliance Manual and reviewing and revising policies.
- Assisting FXAQ Ltd. with the incorporation and launch of a BVI approved investment manager to a Singapore derivative trading entity.
Mourant
Mourant routinely offers regulatory advice to leading banks, multinational corporations and high-net-worth individuals both within and outside the BVI, while also leading high-profile and cross-border contentious regulatory inspections and investigations, and financial crime and disciplinary proceedings. Dual-qualified (BVI and Cayman) Sara Galletly notably concentrates her capabilities on anti-money laundering, beneficial ownership, economic substance, data protection and other evolving regulatory regimes; while finance, corporate and funds head Ian Montgomery is noted for his expertise in regulatory developments impacting funds, corporate structures and regulated entities. Counsel Saraid Taylor’s experience includes handling digital asset launches and providing economic substance advice.
Responsables de la pratique:
Ian Montgomery; Sara Galletly
Autres avocats clés:
Saraid Taylor
Principaux dossiers
- Advised various organisations with regards to economic substance classification for their BVI entities.
- Advised various organisations on anti-money laundering regulations, policies and procedures.
- Advised various organisations on business licences applications.