Regulatory Compliance and Continuing Obligations
The regulatory framework in the Cayman Islands is increasingly complex and requires specialist legal support. Stuarts Cayman Islands funds attorneys regularly advise our clients how to be compliance with their current regulatory obligations.
Stuarts has a long-standing professional relationship with the Cayman Islands Monetary Authority and we have been involved with the consultation on new laws and regulations which puts us in a good position to provide forward thinking insight into future developments and changes to the laws and regulations.
Stuarts also provides advice with regards to the ongoing obligations of Cayman fund managers, registered mutual funds and private funds as well as other fund and financial services entities.
Our team has advised on:
- Anti-Bribery and Corruption
- Ant-Money Laundering
- Attending regulatory investigation interviews with the Cayman Islands Monetary Authority
- Data Protection
- Economic Substance
- Reporting and Annual Filing Requirements
- Regulatory Training and Audits
Economic Substance and Framework Services
There has been increasing pressure for Cayman Islands companies to demonstrate physical and economic presence in the Cayman Islands in relation to the business they undertake. Stuarts can provide support services including local resident directors, board support, physical presence, and administrative support.
Furthermore, in order to facilitate our clients to meet their needs, Stuarts is able to offer a full range of services as a framework upon which our clients can build a physical presence in the Cayman Islands.
Our affiliated company provides corporate director or non-executive individual director(s) services primarily to hedge funds, investment management companies, private investment companies, general partners for limited partnership private equity funds, funds structured as Segregated Portfolio Companies (SPCs), AIV’s and asset holding vehicles.
Our Beneficial Ownership Team will assist clients in reaching a determination as to whether they fall within or outside of the Cayman Islands beneficia ownership regime, and provide assistance with any required filings.
We provide legal advice and guidance to Cayman Islands financial institutions on all aspects of the Automatic Exchange of Financial Account Information (AEOI) due diligence and reporting regimes such as the OECD Standard for Automatic Exchange of Financial Account Information – Common Reporting Standard (CRS) and FATCA.
The Anti-Money Laundering Regulations of the Cayman Islands and related legislation (“Cayman AML Regime”) which introduced the requirement of a “natural person” to be designated as: anti-money laundering compliance officer (“AMLCO”), money laundering reporting officer (“MLRO”) and deputy MLRO (“DMLRO”) – collectively, the “AML Officers”. Stuarts Funds Team can offer experienced compliance officers to meet these requirements.
Stuarts assist clients in obtaining an International Securities Identification Number (ISIN), a code that uniquely identifies a specific securities issue.
Stuarts is a recognised listing agent for the CSX and our lawyers are regularly involved in the listing of mutual funds on the CSX.