Group

International AML Regimes

Typical jurisdictions utilised by hedge funds are, in many respects, ‘purpose built’ for financial services and products.  

As a result, these jurisdictions have some of the most stringent anti-money laundering, corruption and bribery regimes in the world, as their governments seek to ‘gold-plate’ and protect international reputation of the jurisdiction. Many jurisdictions require dedicated anti-money laundering officers for fund and other financial services entities, requiring regulatory and documentary compliance by fund and managers.

Importantly, the legal considerations go much further than preparing agreements to govern the relationship with AML officers. Funds must perform (or appoint an administrator to perform) know-your-client checks on investors, and, depending on the particular regime, constitutional mechanics and structures need to be established to ensure due checks and balances on anti-money laundering, corruption and bribery procedures.

We advise service providers and funds on these issues. We entwine our knowledge of UK compliance law regulation and practice with the specific local requirements of offshore jurisdictions, and advise on best-practice.

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