Clare specialises in assisting new entrants to the GCC financial services sector with meeting their initial and on-going Compliance requirements. Clare’s specific areas of expertise are in respect of the rules relating to the GCC regulatory environment and how these apply to local entities and, where relevant, the impact on their global business. Clare’s background is mainly with investment firms, wealth managers, brokers and exchanges. Clare has considerable experience with wealth management firms in the GCC as well as those based outside the GCC who wish to market their services to potential GCC investors.
With over 15 years compliance experience in-house for both large and small firms as well as within a Commodities/Equities Exchange, Clare provides expert technical advice on both a group and entity basis on the impact and ongoing obligations of a Firm which is established in the GCC. This expertise has been applied to establishing branches of large international firms as well as small local start-ups.
After two years as part of the Supervision team at the London Stock Exchange where Clare was responsible for supervising Market Makers and specialised in reviewing Insider Dealing cases, Clare joined Robert W. Baird as a Compliance Officer. Over five years, Clare managed the Compliance Team based in London and was responsible for three regulated entities covering Investment Banking, Private Equity and Venture Capital.
Clare relocated to the UAE in 2006 as the Director of Membership Supervision for the Dubai Mercantile Exchange (DME) where she assisted in establishing the new commodities exchange in the Dubai International Financial Centre (DIFC).
In 2007, Clare joined CCL in Dubai where she is now a Director. As part of the senior management team, Clare is responsible for shaping our consultancy team to ensure the ongoing expertise in the advice provided as well as monitoring the quality of documentation produced. Clare is also responsible for writing certain knowledge pieces and speaking at conferences so that she continues to educate not just those in CCL but also Compliance Officers in general.
Clare advises firms looking to set up in the region as to their structure, how best to meet their on-going commercial needs within the applicable regulatory framework as well as firms on-going obligations, including Variation of Permission, change of controller and impact of changing regulations from a local and global perspective. Clare also acts as the Compliance Officer and MLRO for a select number of DFSA authorised firms with whom she has built up long-term relationships and has become an integral part of their operations. Working in partnership with these firms ensures that not only are DFSA requirements met but also those of the group or local management.
Clare and the team have ongoing interaction with DFSA and work with the regulators to ensure firms under CCL’s care always receive accurate advice in line with regulatory expectations.
Clare is a Kings Lawyer having completed her LLB Hons at Kings College University London. She has obtained her Diploma in Compliance from the CISI where she has been a member for over 20 years and is she a member of the Dubai Mercantile Exchange’s Disciplinary Committee.
Recent work includes:
- Providing Compliance outsourcing or support to:
- A financial group providing brokerage services in financial futures and options;
- A US-based Private Equity Firm based in both Dubai and Saudi Arabia;
- A European based trading platform provider;
- An International investment bank; and
- A start-up hedge fund.
- Documentation project for a local Bank regulated by the Central Bank of the UAE.
- Assistance in Crypto brokerage and Exchange applications.