Banks and Financial Institutions

Banks and Financial Institutions

Our global team has decades of experience advising and assisting banks, financial institutions and clients across a range of legal and commercial matters.  Our offering includes the following:

• Licensing and registration of offshore banks and other regulated financial businesses
• Securing Virtual Asset Service Provider registration and licensing in the Cayman Islands, Bahamas and BVI
• Establishment of bank accounts with our affiliate, Sterling Bank, headquarted in the Bahamas
• Advising on equity and debt issues
• Preparation, review and updating of commercial and operational documentation and agreements for financial institutions
• Licensing and establishment of digital banking platforms, including commercial agreements, operational and complaince policies and procedures, terms and conditions, service level agreements and data protection
• Assistance with corresponding banking arrangements
• Establishment of escrow accounts
• Regulatory processes, including licensing and license renewals
• Regulatory compliance and governance projects
• Regulatory inspection and remediation processes
• Training for operational and executive teams

We also assist in the application and establishment of regulated banking operations in the Cayman Islands and Bahamas.

m•advisory Bahamas, through its affiliated entity, Sterling Bank, offers bank accounts and related  services to clients, including investment funds and companies established in Bahamas or in other jurisdictions.

More recently, we see a growing need for more sophisticated and comprehensive advice and support on regulatory issues, including compliance, data management and international anti-money laundering rules, which are constantly evolving. For banks and financial entities, it increases the complexity, cost and risk of not keeping all information, documentation and processes up to date, correctly documented and verified, that is, in full compliance with regulations.

We provide assistance to banks and other financial institutions with their internal compliance needs, including:

• Compliance audits, training and regulatory review
• Assistance in updating and maintaining policies and systems
• Training and preparation for senior executives and board members, in local languages
  support with regulatory reviews and remediation plans
• Monthly regulatory updates in local languages