Mr James Heinicke

James Heinicke

Updates

Banking & Financial Services

Administrative fines regime extended
Cayman Islands | 11 August 2020

The Monetary Authority (Administrative Fines) (Amendment) Regulations 2020 recently came into force, extending the administrative fines regime beyond breaches of the Anti-money Laundering Regulations to a much broader spectrum of breaches under various Cayman regulatory laws. Of particular interest to Cayman bank licensees will be how breaches of the Banks and Trust Companies Law will be treated under the regulations.

Bank regulatory update
Cayman Islands | 14 July 2020

The COVID-19 pandemic has triggered a number of operational and administrative challenges across the global legal and economic landscape. This article summarises some of the latest developments and the key issues relevant to financial institutions with legal and regulatory links to the Cayman Islands, including the validity and enforceability of electronic signatures and the Cayman Islands advisory on anti-money laundering and countering the financing of terrorism compliance.

Corporate & Commercial

Use of digital contracts and electronic signatures
Cayman Islands | 25 May 2020

In light of the COVID-19 pandemic and with many people now working remotely, companies are increasingly considering the use of digital contracts and electronic signatures. To help minimise disruption and ensure business continuity, this article summarises the legal position in the Cayman Islands and provides practical advice on implementation.

Private Client & Offshore Services

Administrative fines regime extended
Cayman Islands | 06 August 2020

The Monetary Authority (Administrative Fines) (Amendment) Regulations 2020 recently came into force, extending the administrative fines regime beyond breaches of the Anti-money Laundering Regulations to a much broader spectrum of breaches under various Cayman regulatory laws. Of particular interest to Cayman bank licensees will be how breaches of the Banks and Trust Companies Law will be treated under the regulations.

Bank regulatory update
Cayman Islands | 09 July 2020

The COVID-19 pandemic has triggered a number of operational and administrative challenges across the global legal and economic landscape. This article summarises some of the latest developments and the key issues relevant to financial institutions with legal and regulatory links to the Cayman Islands, including the validity and enforceability of electronic signatures and the Cayman Islands advisory on anti-money laundering and countering the financing of terrorism compliance.

COVID-19 restructuring and corporate recovery measures
Cayman Islands | 28 May 2020

The government recently held a virtual meeting with the heads and delegates of financial services industry associations in Cayman to allow it to engage with them directly on various COVID-19-related business continuity plans relating to the financial services industry. It is hoped that any chosen actions will be taken swiftly, consistent with the government's stated desire of assisting users of the financial products that the jurisdiction offers.

Use of digital contracts and electronic signatures
Cayman Islands | 21 May 2020

In light of the COVID-19 pandemic and with many people now working remotely, companies are increasingly considering the use of digital contracts and electronic signatures. To help minimise disruption and ensure business continuity, this article summarises the legal position in the Cayman Islands and provides practical advice on implementation.

Capital call facilities – LPA and side letter review
Cayman Islands | 10 January 2019

Along with the growth and maturity of the fund finance market, funds and their counsel have become increasingly familiar with lenders' limited partnership agreement (LPA) requirements. Therefore, newer LPAs often include the provisions that lenders require in order to provide financing under a capital call facility. Lenders and their counsel should consider several key due diligence points when reviewing LPAs, investor subscription documents and related side letters.