Firm Profile > Simcocks > Douglas, Isle Of Man
Isle Of Man
Simcocks > The Legal 500 Rankings
Providing 'trustworthy legal advice promptly and cost-effectively', Simcocks is well known in the local market for its work on structuring trusts and foundations. Practice head Phil Games works on these high value and multi-jurisdictional structures, with additional expertise as a Notary Public. At associate level, he is supported by family law specialist Caroline Jennings, who is singled out for her 'quick thinking' and 'depth of knowledge', and Kevin O’Loughlin, who is also an expert in trust law.
Other key lawyers:
‘Very helpful and efficient practice who always go out of their way to assist.’
‘We regularly use their private client department, mainly on property matters and our clients are always happy with their services. Very good response times to any queries sent.’
‘Simcocks family team are able to provide trustworthy legal advice promptly and cost effectively. They are perceptive in providing legal advice that is succinct, practical and user friendly for their peers and for their clients. They understand the need to provide advice that the client can ‘run with’ so that it does not need to be deciphered before the advice can be put to use.’
‘Simcocks are effective at working collaboratively and with a team spirit in mind. They provide solutions and think outside of the box. Caroline Jennings – quick thinking, depth of knowledge, practical as well as legal advice. Caroline is forward thinking and will go above and beyond to help, even contacting me some time after my initial request for advice to inform me of a situation that may assist my client. ‘
‘Within this market Simcocks have been excellent at ensuring their clients requirements are clearly and accurately transmitted to all parties to ensure an efficient and focused response to the case in hand.’
‘The team is excellent and provide quality advice in a timely manner. They go the extra mile and are very knowledgeable about their areas of expertise. The individuals are very knowledgeable and the advice given is provided in a easily understandable manner.’
Simcocks is adept in acting as Manx counsel on finance deals, acting for major corporates and banks, often leveraging strong relations with UK law firms. Alex Spencer has broad expertise in banking and finance transactions and is also active in regulatory work. Corporate partner Irini Newby is often involved in banking and finance matters as well.
Commercial property Tier 2
Simcocks has been advising major businesses and property investors, as well as community organisations, on commercial real estate transactions. Irini Newby leads the practice and also has expertise in planning law and leasing matters.
Corporate and commercial Tier 3
Simcocks is adept in real estate transactions, M&A and corporate restructuring. Key members of the team include practice head Irini Newby, who is particularly strong in real estate transactions, and Alex Spencer, who focuses on M&A and general corporate work. Associate Kevin O’Loughlin is also recommended.
Dispute resolution Tier 3
Simcocks litigation team is now headed by Peter Maughan, who formerly practices as an independent barrister in Dublin and contributes expertise in commercial, insolvency and trust disputes. Associate Caroline Jennings focuses on family law, with expertise in handling high-value matrimonial matters, and Elizabeth Simpson has a broad range of expertise spanning from commercial litigation and insurance through to matters involving horses. Former practice head Christopher Arrowsmith left the firm on his appointment as Deputy High Bailiff, a role which is effectively island's second most senior stipendiary magistrate.
Insurance and pensions Tier 3
Simcocks' David Spencer, is highly experienced in marine and other insurance structures, with strong expertise in transfers and amalgamations. Also leading the team is Phil Games, who regularly advises on pension schemes as part of a broader non-contentious Chancery practice.
Simcocks > Firm Profile
Simcocks is one of the longest established law firms in the Isle of Man, having formed an enviable reputation due to its expertise and experience. Founded in 1949 by Alfred Howard Simcocks, the law firm in the heart of the British Isles has grown from strength to strength.
The firm: With a reputation for delivering exceptional results for clients, the firm’s team of dynamic advocates adds real value to each and every case. Simcocks has a commitment to building and fostering strong relationships and, as well as offering a premier service, its lawyers are easy and straightforward to deal with.
The depth and range of the firm’s lawyers’ expertise and experience generates many complex referrals and it is regularly instructed by magic circle and silver circle firms. The group is strong on litigation support as well as transactional, restructuring and complex advisory work.
The firm’s results-driven service has the strength and ability to advise private individuals, Isle of Man-registered companies, multinationals, SMEs, regulators and NGOs. The team of advocates is approachable, dynamic, and highly recommended by Chambers and Partners and The Legal 500.
Types of work undertaken: Simcocks is a leading law firm based in the Isle of Man. Types of work undertaken include:
Banking and finance: Simcocks’ banking and finance team advises banks, financial institutions and corporates on all areas of finance including general bank lending, project finance, property finance, acquisition finance, asset securitisation and structured finance.
Corporate and commercial: specialists in corporate restructuring, mergers and acquisitions, the acquisition and disposal of business undertakings, the formation of new companies, general and limited partnership matters, joint ventures and shareholder agreements, shareholder and partner disputes, regulatory compliance, pensions, banking and capital markets including AIM listings and corporate legal opinions.
Dispute resolution: the department specialises in international corporate and commercial litigation and has an impressive track record of success in high-stake disputes. Simcocks’ technical knowledge generates many complex referrals, including cross-jurisdiction disputes.
Property: work is undertaken on all aspects of development, retail, construction and planning, including advising high-net-worth individuals on all aspects of estate planning.
Private client: the private client team regularly works with law firms in the UK and overseas to provide Isle of Man advice on estate planning for clients with multinational holdings. The team has experience as trusted advisors to high-net-worth families.
eGaming: Simcocks deal with regulators in connection with grant of licences, obtaining opinions on the legality of new schemes, and negotiating and drafting commercial partnership agreements.
Shipping: the firm has considerable expertise delivering advice on the legislation, regulatory and commercial issues connected with this sector.
Intellectual property: Simcocks advises on contentious and non-contentious issues arising in connection with computer and software licences, trade mark registrations and disputes, copyright issues and design rights and patents.
Family law: the firm is committed to the constructive resolution of family disputes, including divorce and separation and preparing prenuptial and postnuptial agreements.
|Corporate and commercial||Irini Newby|
|Corporate and commercial||Alex Spencer|
|Dispute resolution and ADR||Caroline Jennings|
|Private client||Phil Games|
|Business and finance||Irini Newby|
|Property – commercial and residential||Irini Newby|
|Property – commercial and residential||Taryn Pyle|
|Shipping and aviation||Alex Spencer|
|Shipping and aviation||David Spencer|
|Notarial services||Phil Games|
|Restructuring and insolvency||Alex Spencer|
|Collective investment schemes or mutual funds||Alex Spencer|
|Collective investment schemes or mutual funds||David Spencer|
|Christopher Brooks||Head of Dispute Resolution||View Profile|
|Louise Byrne||Consultant Advocate||View Profile|
|Mr Phil Games||CEO||View Profile|
|Caroline Jennings||Advocate||View Profile|
|Irini Newby||Director||View Profile|
|Kevin O’Loughlin||Advocate||View Profile|
|Taryn Pyle||Advocate||View Profile|
|Elizabeth Simpson||Consultant – advocate and solicitor||View Profile|
|Alex Spencer||Director||View Profile|
|David Spencer||Director||View Profile|
Staff FiguresNumber of UK partners : 4 Number of other UK fee-earners : 17
Reyna Soni, AttorneySimcocks Attorney, Reyna Soni, discusses the firm’s experience and expertise in providing Isle of Man legal opinions.
What is your role at Simcocks Advocates?
I assist Simcocks with its own compliance and regulatory matters and I also assist our clients, mainly trust and corporate service providers (“TCSP’s”), with ensuring that their company has a compliant framework, with the necessary procedures and processes in place, to meet their ongoing regulatory requirements.
Part of my role is to assist clients by providing them with a review form ‘package’ which they would use day to day, where I walk them through what needs to be done, with specific regard to their own operational methodologies.
My involvement could go beyond simply looking at what a company is doing in relation to their compliance requirements to actively assisting them in doing what’s needed to get them ‘over the line’ so to speak, usually in anticipation of or in response to a regulatory assessment. This service includes assisting them in completing their internal and/or managed entity compliance reviews, where for example a licensed entity has fallen behind in maintaining their compliance procedures and processes generally. Here I could rally together a task force if needed and our level of engagement would vary depending on the client’s circumstances.
Who would benefit from the Regulatory & Compliance service?
All businesses, by and large, have some regulatory and compliance requirements. These would range from general GDPR and company reporting requirements to the more complex licensing requirements.
The more intricate matters generally come our way from the licensed and regulated entities, such as TCSP’s and banks who have to comply with the Financial Services Act/AML CFT Code and gaming entities who have to comply with the requirements of the Online Gaming Regulations Act.
How can Simcocks’ Regulatory & Compliance team support a company coming up to an assessment?
Simcocks can assist in many different ways, depending on the type of client and the circumstances that lead them to seeking advice.
When looking at the TCSP and banking clients who are regularly assessed by the IOM FSA, we can provide them with ‘General Health Checks’, where we go through their procedures
and processes to ensure that they are meeting the required regulatory standards, in advance of an assessment. We can even, depending on what’s required by the client, go a step further and create a task force to help the client bring their files and records up to date. By way of example, where a TCSP has fallen behind in conducting their mandatory file reviews and needs to urgently bring things up to date in advance of an assessment, we could go through their client entity files, do the review and give them a list of things that need to be done, to bring the records up to date.
What can the Simcocks team do to assist if there has been a breach?
Depending on the nature of the breach, we could review the matter and advise whether we consider there has been an actual breach, and liaise with the IOM FSA in this regard. Where a client elects to challenge the breach, we could assist in mediating the matter with the IOM FSA and if necessary, our litigation team can assist in bringing the client’s case forward.
Alternatively, we could work with the client and the FSA to demonstrate compliance, post breach.
What services do you provide to ensure clients’ regulatory compliance in the future?
Our general health-checks would help our client to determine which aspects of their policies and procedures need to be updated so that they continue to be compliant and we can assist in doing this for clients ourselves, where necessary.
Our review task force can be called in at any time to help a client stay on track, even if an assessment isn’t imminent and our review form package can be used by clients on an ongoing basis to ensure that they continue to do what is required.
We can assist by providing advice to Money Laundering Reporting Officers (MLROs) on whether a suspicious activity report needs to be made in specific circumstances.
Also, importantly, we can provide bespoke training to clients and their staff on the rules that currently apply to their particular office, so they have an understanding about why these tasks and checks are necessary.
Reyna is part of a team of risk advisory and compliance experts at Simcocks Advocates.
Corporate and Commercial
Simcocks’ excellent Corporate and Commercial team prides itself on its extensive expertise and its ability to provide comprehensive advice within very tight timeframes. The team is headed by Irini Newby, who is also an expert in Commercial Property and Employment law, and includes Alex Spencer, a leading individual in Banking and Finance.