Richard Spencer

Partner, Head of FinTech & Co-Head of Corporate

Contact

rspencer@campbellslegal.com
Chambers and Partners Global, 2025

"He is a go-to lawyer for fintech."

Chambers and Partners Global, 2025

"Richard can be relied on to provide a solution-based approach to issues that a US fund manager needs to work through in setting up an offshore fund structure."

Chambers and Partners FinTech, 2025

"Richard understands a project before really getting into it. Some people take a cookie-cutter approach, whereas Richard gets into a lot of the detail."

Chambers and Partners FinTech, 2025

"Richard is careful, pragmatic and a problem solver. He understands the technology and the business needs in a way that puts him above the rest."

Chambers and Partners

"Richard has become the go-to Cayman and BVI lawyer for the crypto industry."

Related expertise

About

Richard is head of FinTech and co-head of our Corporate Department. He is the “go-to Cayman and BVI lawyer for the crypto industry” (Chambers & Partners), and his practice also 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.

Experience

  • 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)

  • Professional associations

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

  • Recognition and Awards

    • Ranked in Chambers & Partners Cayman Islands FinTech Guide, Band 1
    • Ranked in Chambers & Partners British Virgin Islands FinTech Guide, Band 1

  • Publications and news

    News

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    Articles

    Client Advisories

    • BVI Professional Fund – The most popular BVI investment funds product

      The British Virgin Islands (“BVI”) is one of the leading offshore investment funds jurisdictions, attracting investment managers and investors worldwide. BVI investment fund structures are well known in the industry and very flexible allowing investment managers to tailor their offering to the needs of investors.

    • Campbells’ Guide to the 2024 BVI Business Companies Act Amendments

      Demonstrating its commitment to ensuring that its financial services industry is aligned with international best practices, the BVI Business Companies (Amendment) Act, 2024 which makes various amendments to the BVI Business Companies Act (as revised), was published in the BVI Gazette on 26 September 2024. 

    • Changes to the Cayman Islands beneficial ownership regime

      The Beneficial Ownership Transparency Act, 2023 and the Beneficial Ownership Transparency Regulations, 2024 were brought into force on 31 July 2024, with enforcement relating to the new requirements under the Act commencing on 1 January 2025.

    • Deadline approaching to file the BVI Annual Financial Return

      Every BVI company is required to file with its registered agent an annual financial return within 9 months of either the company’s calendar year or, if the company’s financial year is not a calendar year, the company’s financial year.

    • Amendments to the Cayman Islands Companies Act

      The purposes of the Amendment Act is to make innovative commercial enhancements to the Companies Act; however, it has been gazetted, but is not yet in force.

    • Removal of the Cayman Islands from EU and UK AML Lists

      Effective early February, the Cayman Islands will be removed from the Financial Action Task Force's Grey List of jurisdictions.

    • The BVI Virtual Assets Service Providers Act, 2022 comes into force

      Following our client advisory issued on 11 January 2023, the BVI Virtual Assets Service Providers Act, 2022 (the “VASP Act”) will come into force on 1 February 2023. 

    • The British Virgin Islands Virtual Assets Service Providers Act, 2022

      BVI has become one of the leading jurisdictions for the establishment of virtual asset legal structures over recent years, and the enactment of the VASP Act demonstrates the BVI’s commitment to the virtual asset sector. 

    • New deregistration rules for Cayman Islands regulated funds

      CIMA has recently issued an updated rule and regulatory procedure in respect of the cancellation of licenses or certificates of registration for regulated mutual funds and registered private funds respectively.

    • 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.

    • 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). 

    • 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.

    • Cayman Islands Virtual Assets Framework

      The Cayman Islands Government has announced that the Virtual Asset (Service Providers) Law, 2020 (the "VASP Law") will come into force in two phases. Phase one, commencing on 31 October 2020, will focus on anti-money laundering (AML) and countering the financing of terrorism (CFT) compliance, supervision and enforcement. Phase two, which will include licensing requirements and prudential supervision, is expected to come into force in June 2021.

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