Richard Spencer - Partner, Campbells Grand Cayman - Corporate Law

Overview

Richard is a partner in our Corporate Department. His practice covers investment funds, cross-border mergers and acquisitions, joint ventures, equity capital markets and corporate finance.

Richard represents hedge fund managers and private equity firms on the structuring, formation, regulation and ongoing operation of Cayman Islands investment funds with a wide array of asset classes, from cryptocurrencies and other digital assets to real estate and debt. He also advises fund investors and service providers on both routine and complex investment fund related matters. Richard advises on a wide variety of corporate transactions, including cross-border mergers and acquisitions, joint ventures, stock market listings, shareholder arrangements, group reorganisations and downstream transactions. He regularly assists emerging growth companies and established technology companies with their group structuring, offshore IP ownership and fundraising. He also advises clients on a range of finance matters, including fund financing and debt listings on the Cayman Islands Stock Exchange. Richard joined Campbells in 2014.

Expertise

  • Investment funds
  • Mergers and acquisitions
  • Joint ventures
  • Equity capital markets
  • Corporate finance
  • Asset finance

Work Highlights

  • Advising Barrick Gold Corporation and its affiliates on its Cayman Islands joint venture arrangement with Shandong Gold Mining Co., Ltd. in respect of the Veladero gold mine in Argentina.
  • Advising Hark Capital on the set up and launch of its closed-ended Cayman Islands debt fund.

Qualifications and Admissions

  • Attorney at Law Cayman Islands, 2014
  • England & Wales, Solicitor, 2006 (non-practising)
  • Nottingham Law School, Legal Practice Course (with distinction), 2003
  • University of Oxford, Jurisprudence, 2002
  • Solicitor of the Eastern Caribbean Supreme Court (British Virgin Islands)

Prior Career History

  • Ogier
  • Ashurst

Professional Associations

  •  AIMA Cayman Executive Committee (Member Representative)
  • Blockchain Association of the Cayman Islands (Founding Director)

Publications and News

Client Advisories

  • Cayman Islands and BVI Economic Substance requirements extended to Partnerships. In line with ongoing commitments given by the Cayman Islands, regulations came into force in the Cayman Islands on 30 June 2021, expanding the categories of entities that are now in scope for the purposes of the Economic Substance regime to all types of partnerships (including general partnerships, exempted limited partnerships and foreign limited partnerships). 
  • Implications of the BVI Data Protection Act for Investment Funds. The Data Protection Act, 2021 (the “Act”) was brought into force in the BVI with immediate effect on 9 July 2021 and introduces, for the first time in the British Virgin Islands, a legislative framework for data protection based on a set of internationally recognised privacy principles.  The Act provides that its objects are to: - safeguard personal data processed by public bodies and private bodies by balancing the necessity of processing the personal data and protecting personal data from unlawful processing; and - promote transparency and accountability in the processing of personal data.
  • Virtual Assets in the British Virgin Islands: Compliance Period to Expire in January 2021. The BVI Financial Services Commission (the "Commission") recently published new virtual asset guidance (the "Guidance"). The purpose of the Guidance is to clarify the applicability of the BVI’s existing regulatory regime to virtual assets and virtual asset-related activities.