Margaret Elder is an Associate in the Banking & Finance practice in Dubai. Margaret’s practice area focuses on financial services regulation.
Margaret advises banks and other financial institutions on various regulatory and ongoing compliance issues including authorisations, conduct of business rules, marketing of financial products, customer documentation, anti-money laundering, regulatory investigations, regulatory aspects of sales and purchase of companies and businesses.
Margaret graduated from the University of Otago in 2006 with a Bachelor of Laws and a Bachelor of Arts. She was admitted as a Barrister and Solicitor to the High Court of New Zealand in 2007. She practiced in New Zealand working in corporate and commercial law. Prior to joining Al Tamimi, Margaret was the legal manager for a finance company in Dubai.
Since joining Al Tamimi, Margaret has been advising on a wide range of financial services regulatory issues, including:
- compliance and regulatory issues; including advice on compliance systems and controls, anti-money laundering issues, conflicts of interest, data protection, notification requirements and obligations in relation to conduct of business;
- cross border provision of financial services and products to professional and retail investors and related licensing requirements;
- DFSA authorisations (for banks, financial advisors and intermediaries, portfolio and asset managers and funds), including changes to permissions;
- regulatory aspects of corporate restructuring; including acquisitions, mergers and liquidations;
- assisting and advising in relation to regulatory breaches, potential sanctions and remedial actions;
- assisting and advising when a regulatory authority visit or review is being undertaken; and
- drafting full suite of client on-boarding documentation, including client agreements covering client classification, conduct of business, anti money laundering and sanctions screening requirements.
- Advising Bank of Singapore on the set up of their DIFC branch and on the regulatory aspects of the purchase and transfer of Barclays’ DIFC private banking clients;
- Advising on the deregistration of the DIFC branch of Société Générale Bank and Trust and the transfer of clients in the DIFC;
- Advising on the conversion of Bank of China’s DIFC subsidiary to a branch;
- Advising a large European bank in relation to compliance with anti-money laundering and client on-boarding requirements and advising on remedial steps to address issues; and
- Assisting one of Japan’s leading banks conduct a detailed review of their client on-boarding process to ensure compliance with DIFC requirement and UAE Federal anti-money laundering legislation.
2006 – Bachelor of Laws, University of Otago
2006 – Bachelor of Arts, University of Otago
2007 – Barrister and Solicitor in New Zealand