Nicholas Brookes
Partner | Legal
British Virgin Islands
Nicholas Brookes
Partner
British Virgin Islands
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Top 10 tips for dealing with regulatory investigations
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The regulatory environment is increasingly complex and is often challenging for regulated businesses. Specialist legal support is frequently required to advise on regulatory change or to consider the right response to potential issues.
Ogier strives to ensure that our clients not only remain in compliance with their regulatory obligations but that they receive forewarning and practical advice regarding the implementation of regulatory proposals, initiatives and reforms.
In this infographic, we share our top ten tips for dealing with regulatory investigations.Â
- Deal with the regulator in a transparent, proactive and collaborative manner at all times
- Understand the regulator's concerns and speak their language
- Create and develop a culture which encourages prompt notification of any potential issues or concerns to internal compliance
- Prepare thoroughly for site visits by the regulator and ensure that any remediation requirements that arise out of the visits are fulfilled within the deadlines set by the regulator by putting in place appropriate governance and project management support
- Establish at an early stage a practical communications protocol to preserve legal privilege and (where appropriate) protect client confidentiality
- Understand the core elements of any breach identified by the regulator and assess how this can affect your business. This will require an understanding of the regulator's enforcement policies and how to navigate them
- Make use of up-to-date technology and analytics to assist with the collation, review and analysis of data
- During the course of the investigation, ensure that dedicated staff with appropriate skills are engaged to support you. This will minimise the pressure on your business and should allow the organisation to continue and function as usual
- Keep communication with the regulator open and regular during enforcement, keeping them appraised of any issues or changes in the remediation plan
- Ensure that your organisation proactively mitigates against the risk of regulatory breaches by organising appropriate training, testing compliance with systems and controls and learning lessons where you fall short
Key contacts
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Nicholas Burkill
Partner | Legal
British Virgin Islands
Nicholas Burkill
Partner
British Virgin Islands
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Michael Killourhy
Partner | Legal
British Virgin Islands
Michael Killourhy
Partner
British Virgin Islands
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Marie-Claire Fudge
Partner | Legal
British Virgin Islands
Marie-Claire Fudge
Partner
British Virgin Islands
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Rachael Reynolds KC
Global Senior Partner | Legal
Cayman Islands
Rachael Reynolds KC
Global Senior Partner
Cayman Islands
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Gemma Bellfield (nee Lardner)
Partner | Legal
Cayman Islands
Gemma Bellfield (nee Lardner)
Partner
Cayman Islands
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Tim Clipstone
Partner | Legal
British Virgin Islands, Guernsey
Tim Clipstone
Partner
British Virgin Islands, Guernsey
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Alex Horsbrugh-Porter
Partner | Legal
Guernsey
Alex Horsbrugh-Porter
Partner
Guernsey
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Joanne Huckle
Partner | Legal
Cayman Islands
Joanne Huckle
Partner
Cayman Islands
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Sandie Lyne
Partner | Legal
Guernsey
Sandie Lyne
Partner
Guernsey
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Mathew Newman
Partner | Legal
Guernsey
Mathew Newman
Partner
Guernsey
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Michael Rogers
Managing Associate | Legal
Guernsey
Michael Rogers
Managing Associate
Guernsey
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Sophie Reguengo
Partner | Legal
Jersey
Sophie Reguengo
Partner
Jersey
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Matthew Shaxson
Group Partner, Ogier Legal L.P. | Legal
Jersey
Matthew Shaxson
Group Partner, Ogier Legal L.P.
Jersey
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Nick Williams
Partner | Legal
Jersey
Nick Williams
Partner
Jersey
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