News & Insights

Cayman Funds Newsletter - March 2016

Welcome to the Q1 2016 Stuarts quarterly funds newsletter.

In this edition, you will read about topics including:

UK FATCA Update
CRS Update
AIFMD Update
Ongoing Obligations for Funds Registered Under Section 4(3) of the Mutual Funds Act
Latest Investments and Securities Figures
CIMA Supervisory Issues & Information Circular

We hope you will find the newsletter of interest.

Kind regards,

Chris Humphries
Managing Director

Chris Humphries

UK FATCA Update 2016

Financial Institutions will be required to provide the first report under UK FATCA on or before 31 May 2016 in respect of any financial accounts maintained during the calendar year 2014 or 2015.

CRS Update 2016

As mentioned in previous newsletters, the Cayman Islands Tax Information Authority (International Tax Compliance) (Common Reporting Standard) Regulations, 2015 (the "CRS Regulations") were brought into effect on 16 October 2015. The CRS Regulations are the means by which the OECD Common Reporting Standard (the “CRS”), being due diligence and reporting standards for the global automatic exchange of information for tax purposes (“AEOI”), has been brought into force in the Cayman Islands with effect from 1 January 2016.

AIFMD Update 2016

A decision on its inclusion of the Cayman Islands in the EU’s AIFMD (Alternative Investment Fund Managers Directive) Passport scheme is expected by June 2016. If granted, this would secure future access to European investors for funds either managed or registered in Cayman.

Ongoing Obligations for Funds Registered Under Section 4 (3) of the Mutual Funds A ct

Stuarts released its guidance note on the ongoing obligations for funds registered under section 4(3) of the Mutual Funds Act.

Investments and Securities Q1 2016

Read the latest Licences / Registrations figures in effect in the Cayman Islands.

CIMA Supervisory Issues & Information Circular

The Cayman Islands Monetary Authority has published the first edition of its Supervisory Issues & Information Circular, which will be published bi-annually. Given the importance of the issues highlighted therein we would be pleased to circulate a copy to you on request.

Publications

“Compact independent firm that remains a sound choice for funds counsel in the jurisdiction. Well versed in acting for fund managers, promoters and international investors, providing guidance on the structuring and formation of funds, portfolio transactions and regulatory compliance issues, as well as restructuring and litigation. Notable for its expertise in cryptocurrency funds and related investments.”
Publication Recognition - Chambers & Partners
Stuarts Humphries “impresses clients with its responsiveness, industry knowledge and value for money, especially when compared to some of the larger firms in the domicile.”
Publication Recognition - Legal 500
“Boutique firm offering prompt personal service and expertise covering a wide range of areas.”
“Very responsive team with wide knowledge on funds-related issues, including crypto funds.”
Fund Client Testimonial - IFLR 1000
“They are just phenomenal, the advice that they give strikes a real balance between business and legal issues, and they have real-world solutions instead of sitting in an ivory tower.”
Client Testimonial - Chambers & Partners
“The team gives prompt responses and is able to distill complex questions into easy-to-understand issue.”
Fund Client Testimonial - Legal 500
“The partners roll up their sleeves, take great pride in the work they do and go to great lengths to make themselves available.”
Client Testimonial - Chambers & Partners
“Stuarts Humphries, understands the complex issues we face and the firm offers substantial value in relation to the fees charged.”
Legal 500
“They are very thorough, knowledgeable and most importantly very responsive.”
Fund Client Testimonial - IFLR 1000
“Their strongest point is their customer service. They are incredibly responsive and helpful in meeting our deadlines.”
Fund Client Testimonial - Chambers & Partners
“They provide straightforward, practical advice and the level of attention we receive is very high. They are good at dealing with commercial matters in a commercial context.”
Legal 500

More Testimonials

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