Expertise

Tempest offers its clients in Principality of Monaco legal advice in the following subjects:

Regulatory Law/Banking and Finance

  • Relations with the Banking and the Financial Regulators for operators present in and/or who wish to relocate to Monaco (the French ACPR – Autorité de Contrôle Prudentiel et de Résolution and the Monaco Commission de Contrôle des Activités Financières – CCAF ),
  • Preparing authorisation files including contracts, organisation, control levels, compliance rules, duties and functions of Managers, roles and duties of Committees,
  • Legal opinions on regulated and non-regulated activities/defining limits between banking and non-banking activities,
  • Impact of EU Directives, including EMIR, CRD IV, and AIFMD, UCITS and MIFID,
  • Marketing and soliciting of investment products; miss-selling of financial products and enforcement rules,
  • Management of conflicts of interest,
  • Market rules and market conducts,
  • Cross border issues and Cross border Manuals; legal alerts; specificities of Monaco in respect of the EU,
  • ISDA and other custodial issues,
  • Role and duties of custodian/depositories,
  • Information provided to the clientele,
  • Disclosure rules and mentions on internet sites, including disclaimers,
  • Legal opinions on insurance; specificities of the Monaco issues in respect of insurance and insurance brokerage activities,
  • Advisory activities,
  • Legal and regulatory pre audit and post audit for Regulators (ACPR and CCAF),
  • Confidentiality issues,
  • Preparation of wide range of contracts (account opening documents, investment management, advisory contracts),
  • Delegation and Outsourcing Agreements in the banking and financial fields,
  • Intra group issues including Exchange of Information and drafting Service Level Agreements,
  • Setting up Monegasque Investment Funds,
  • Derogation rules,
  • Prospectus and other documentation for Funds,
  • Legal and regulatory pre audits for Investment Funds,
  • Drafting Business Continuity Plan in the banking and financial sectors,
  • Issues related to the qualification of investors, professional certification of operators,
  • Issues related to Employees; fitness and properness rules,
  • Liaison with Regulators; issues related to investigations and administrative sanctions,
  • Risk and internal control requirements.

Mergers and Acquisitions

  • Due Diligence process and Data Rooms,
  • Reviews of SPAs,
  • Merger and Acquisition process with Regulators and Monaco authorities; with emphasis on expertise in the banking and financial fields.

Insurance and Insurance Brokerage activities

  • Legal opinions on marketing insurance activities in Monaco,
  • Issues related to Professional Indemnity Insurance for operators,
  • Documentation for clients.

Corporate Law

  • Setting up non regulated businesses in Monaco; liaising with Regulators and professional operators,
  • Drafting contracts and general corporate advice in liaison with professionals (e.g. Notaries),
  • Presentation of internet sites, disclaimer and other Data Protection issues,
  • Health and Safety issues and Manuals,
  • Internal rules, including Employee Handbooks.

Compliance

  • Anti-Money Laundering and Corruption advice: drafting Manuals and Training,
  • Legal and regulatory pre audit and post audit with Regulators (SICCFIN),
  • Risk based approach in all the issues related to Compliance (AML, Data Protection…),
  • Internal rules for Compliance Officers.

Single Family Offices

  • Advising on structuring Single Family Offices in Monaco,
  • Confidentiality Agreements,
  • Data Protection.

Data Protection issues

  • Regulatory issues and legal opinions in respect of Data Protection,
  • Pre and post regulatory and legal audit of Data Processing and procedures,
  • Setting up Compliance Risk matrices,
  • Formalities with the Regulator (Commission de Contrôle des Informations Nominatives/CCIN),
  • Role of the Data Controller/Data Processor in Monaco,
  • Data Transfer issues,
  • European and International legislation,
  • Training,
  • Drafting Manuals, Internal memos and other Charters including IT Charters,
  • Archive and Data Storage issues, including electronic archiving.

Electronic Commerce and New Technologies

  • Setting up businesses,
  • Presentation of internet sites,
  • Drafting legal mentions/notices,
  • Formalities with the Regulator (Commission de Contrôle des Informations Nominatives/CCIN) for Data Protection issues,
  • Advising on prospection and use of client data issues,
  • Advising on New Technologies issues,
  • Drafting contracts.

Intellectual Property and Image Rights

  • Advising on IP strategies and legal protection,
  • Advising on Image Rights and Defamation issues,
  • Registration of trademarks, designs,
  • Drafting contracts (licence, assignment contracts, etc.).

Wealth Structuring

  • Sophisticated international Estate Planning for Individuals resident in Monaco,
  • Private International Law, and the notions of Renvoi, Habitual Residence, and Domicile,
  • Succession Planning (advising on asset-holding structures notably for cross-border Estates),
  • Wills and Estate Planning in Monaco (coordination with notaires and overseas lawyers),
  • Asset holding structures such as Trusts, Foundations, Funds, and Companies,
  • Establishment of Single Family Offices,
  • Taxation of Individuals and their asset-holding structures,
  • Monaco Immigration and Nationality for high-net worth Individuals/ Visas,
  • Relocation to Monaco,
  • Asset Protection (structures to protect assets and preserve Confidentiality),
  • Probate & Estate Administration (in conjunction with Monaco notaires),
  • Law 214 of 1936 (Monaco’s law recognising Trusts).

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