Lucy Frew

Lucy Frew


T +1 345 814 4676
M +1 345 939 4676

Practice Areas

Lucy Frew is a partner based in Walkers' Cayman Islands office and heads the Global Regulatory & Risk Advisory Group. She joined in 2016 and brings more than 18 years' experience as a specialist financial regulatory and risk management advisory lawyer. As well as having advised financial institutions in private practice in international law firms in London since 2001 (prior to which she practiced as a barrister) she also brings in-house experience as legal counsel at UBS and at the Financial Services Authority in the United Kingdom (now the Financial Conduct Authority).

Lucy's clients are financial institutions across the international and domestic spectrum, including a range of banks, investment funds, administrators, investment managers, advisers, broker-dealers, arrangers, trading venues and insurance and reinsurance sector clients. She also offers significant experience in advising on fintech.

Typical matters range from strategic advice, regulatory gap analysis and regulatory impact assessments to the full range of financial regulatory applications and notifications, as well as day-to-day financial regulatory compliance, anti-money laundering and terrorist financing requirements, international sanctions, CRS and FATCA, economic substance, beneficial ownership marketing of investment products and services, confidential information and data protection, outsourcing, business continuity and disaster recovery, regulatory capital requirements, corporate governance, investigations, disputes and risk management.

Most of Lucy’s matters have a cross-border element and she frequently advises clients on extra-territorial regulatory impact, for example BEPS, AIFMD, MiFID II and GDPR considerations for non-EU entities or reflecting Cayman Islands regulatory requirements in the context of global policies and procedures.


Throughout Lucy's career she has assisted clients with putting regulatory policies, procedures and compliance monitoring programmes in place, as well as advising on the regulatory aspects of transactional documentations and service provider agreements. She has a long track record of assisting clients with contentious financial regulatory matters and investigations and handling relationships with regulators.

Prior to joining Walkers, Lucy headed the financial regulatory practice at her former firm in London. As well as having advised financial institutions in private practice in international law firms in London since 2001, she also brings in-house experience as legal counsel at UBS and was also seconded for ten months to the UK Financial Conduct Authority.

Lucy gained significant experience as a litigator in heavyweight cases for financial institutions before specialising in financial regulation and, prior to 2001, practiced as a barrister.


Admitted In:
British Virgin Islands
Cayman Islands
England and Wales

LLB (Hons) in Law, King's College, University of London, UK
Called to the Bar November 1998, Honourable Society of the Middle Temple, UK
Bar Vocational Course, Inns of Court School of Law, UK
Admitted to the Roll of Solicitors, UK

2020 Legal 500 - Recommended Lawyer - Insurance/Reinsurance

2019 Who's Who Legal - Private Funds (Recommended Lawyer)

2018 Who's Who Legal - Private Funds: Regulatory (Thought Leader)

"Lucy Frew at Walkers is recognised for her 'huge amount of regulatory and compliance experience'. One respondent says, 'She is knowledgeable and experienced in the funds area, I would have no hesitation in referring work to her or recommending her'.”

2018 Legal 500 - Recommended Lawyer - Banking, Finance & Capital Markets

2018 Legal 500 - Recommended Lawyer - Corporate & Commercial​

Lucy has served on many boards and committees, with a particular focus on regulation, risk management, corporate governance, remuneration and prevention of financial crime and cyberattack.

She has also been actively involved in many industry working groups, including AIMA and Cayman Finance, groups in relation to market ethics guidance, AIFMD, MiFID II/MiFIR and MAR, and is a member of 100 Women in Hedge Funds. She is also on the Consulting Editorial Board of Lexis Nexis Financial Service and, since 2016, has written a regular column for PLC.

Lucy recently completed a term of just under four years as an elected member of the City of London Corporation, which runs the City of London financial district and promotes the financial industry.