Chris Humphries, Managing Director at Stuarts Walker Hersant Humphries published a Cayman Islands Funds article in Hedgeweek's Special Report: Cayman Islands Fund Services 2016 edition.
Chris talks about some of the core changes to the funds industry in the Cayman Islands in 2015 like:
- The Cayman Islands awaiting assessment by the European Securities and Markets Authority to be granted the EU’s Alternative Investment Fund Managers Directive (“AIFMD”) passport;
- the Cayman Islands issuing regulations relating to the Common Reporting Standard, the OECD initiative for the global automatic exchange of information for tax purposes (“CRS”), The Tax Information Authority (International Tax Compliance) (Common Reporting Standard) Regulations, 2015 (the “CRS Regulations”); and
- CIMA implementing a new regulatory procedure (the “New Procedure”) in connection with the cancellation of a licence or certificate of registration of a Cayman Islands regulated mutual fund.
He also talks about Cayman as a leading offshore jurisdiction for mutual funds and hedge funds as a result of innovative legislation and the absence of taxation together with the presence of sophisticated and professional service providers and a favourable regulatory environment.
Read more here.
Published with permission from Global Fund Media.
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