Director of legal and regulatory affairs | Grupo Vimenca
Nelson A. Arriaga Checo
Director of legal and regulatory affairs | Grupo Vimenca
What are the main cases or transactions you have been involved in recently?
The team provided counsel to ensure the legal and regulatory compliance of new products and services, aligned with the most recent changes in the legal framework affecting them.
How do you approach managing legal aspects during periods of instability or crises, and how does your legal strategy align with the broader business strategy to ensure the organisation’s resilience?
Management of legal aspects during periods of instability or crisis must follow a strategy aligned with the business’s core values and be quick, efficient, and flexible in interpreting and enforcing contracts and regulatory compliance.
We aim to draft contracts that both protect the company’s interests and add value for all parties involved, especially during times of crisis or instability. Nonetheless, it is vital to maintain trust during these periods, as this is what the business is ultimately trying to preserve. In the end, it does not matter how robust a contract is or how well drafted an arbitration clause may be if there is no trust between the parties facing a crisis.
We ensure comprehensive support that protects business continuity and resilience, while maintaining open and fluid communication with all shareholders and stakeholders to achieve this goal.
What is a cause, business or otherwise, that you are passionate about? Why is this?
A cause I care about is regulation, specifically how it can and should be used to develop, promote, and implement better policies in the financial industry as well as the real economy. In my view, regulation can shape an economic agent’s behaviour and promote better market efficiency without imposing an excessive regulatory burden or relying primarily on sanctions.
Regulation is designed to address market failures such as information asymmetry, negative externalities, and monopolies, to name a few. It can also be used to encourage the emergence of new businesses and entrepreneurs, safer roads, cleaner cities, and healthier markets.
The classic approach to regulation is often reactive, with many regulators around the world responding to market initiatives, imposing sanctions where risks are detected, or, at best, unsure what to regulate or where to begin.
Constant and open interaction with economic agents is essential to understand current market trends and realities and to fine-tune regulation so that it continues to promote market efficiency. Regulation should guide agents’ conduct in ways that benefit society because it makes economic sense, not primarily because they might face sanctions.
Looking forward, what trends do you foresee in the legal landscape in Dominican Republic over the next 5-10 years that companies should prepare for?
Over the next five to ten years, the Dominican Republic’s legal and financial frameworks are expected to evolve significantly, driven by technology, sustainability, and increased institutional transparency. Companies operating in this jurisdiction must be proactive, aligning with emerging trends to remain competitive and compliant.
One key trend is digitalisation and the integration of legal technology. We can already anticipate wider adoption of tools for contract automation, compliance monitoring, and regulatory management. Companies should invest in digital infrastructure and ensure their legal teams are equipped to navigate tech-driven processes.
Data protection and privacy legislation is also set to expand. A comprehensive reform of data protection laws is expected, likely mirroring international standards such as the GDPR and imposing obligations on data collection, processing, and breach notification.
Labour law modernisation is another area of focus. Updates are expected for labour contracts, remote work regulations, and social security contributions. Companies should prepare for more robust inspections and digital reporting requirements.
Regulators are also likely to strengthen corporate governance and transparency. This may include stricter disclosure requirements, enhanced board accountability, clearer compliance obligations, and greater regulatory scrutiny. Businesses will need to prioritise internal controls and ethical practices to remain competitive and compliant.
Finally, the Dominican stock market is experiencing strategic growth, with steady market capitalisation and annual expansion making it an increasingly attractive platform for investment. This trend is expected to continue and gain further relevance over the next five to ten years.
Director of legal and regulatory affairs | Grupo Vimenca
Director of legal and regulatory affairs | Grupo Vimenca
