Cayman Islands Hedge Fund Services 2018

Mon, 29/01/2018 - 11:15

The Cayman Islands is not resting on its laurels and is developing a fintech framework and a legislative and regulatory approach that will allow managers and promoters to leverage the benefits of blockchain, cryptocurrencies and related technologies

The 'Cayman Islands Hedge Fund Services 2018' special report comprises 14 separate articles listed below, these can be read individually or as a sequence.
James Williams, Hedgeweek

Regulatory updates help maintain Cayman’s global reputation

Mon, 29/01/2018 - 11:58

A number of regulatory developments have been introduced into the Cayman Islands over the last 12 months as it takes further steps to ensure the transparency and integrity of its financial funds industry stands up to global scrutiny. »

Chris Humphries, Stuarts Walker Hersant Humphries

Cryptocurrency and blockchain technology in the Cayman Islands

Mon, 29/01/2018 - 12:05

By Chris Humphries, Stuarts Walker Hersant Humphries – Blockchain technology offers an exciting, unprecedented and innovative opportunity for the Cayman Islands investment funds industry. Whilst cryptocurrencies (such as Bitcoin) have been around for a number of years, we are now seeing a surge of activity in this area. Funds are being established in the Cayman Islands which will focus entirely on blockchain and cryptocurrency strategies. In addition, funds are seeking to innovate by accepting cryptocurrencies as a payment mechanism for subscription proceeds. »

Tammy Jennissen, Maples Fiduciary

The importance of effective directors for troubled funds

Mon, 29/01/2018 - 12:09

With the global financial crisis of 2008 now a decade in the past, much has changed in terms of how offshore private funds are governed and monitored. The highly publicised Weavering case in 2009 brought the role of fund directorships into sharp focus, specifically the lack of robust independent oversight.  »

Piers Alexander, Conyers Dill Pearman

Current trends shaping Cayman Islands’ landscape

Mon, 29/01/2018 - 12:23

Changes to beneficial ownership – The Companies Law and the Limited Liability Companies Law of the Cayman Islands (Regime) requires certain Cayman Islands corporate entities (each a company) to maintain a beneficial ownership register (Register) at their relevant registered office, the information of which will be stored in encrypted form on a secure, stand-alone search platform established by the Minister of Financial Services of the Cayman Islands, as the competent authority (Competent Authority).  »

Sean Inggs, IMS

Fund governance evolves to handle cyber risk

Mon, 29/01/2018 - 12:35

IMS (International Management Services Ltd) is one of the leading providers of directorship services in the Cayman Islands. Its directors bring a wealth of experience to the funds they represent. One area of corporate governance that has become increasingly pertinent relates to the growing threat of cybersecurity.  »

CIMA set to have more enforcement powers

Mon, 29/01/2018 - 12:40

Besides the Data Protection Law, 2017, which was gazetted on 5 June 2017 and is expected to come into force in January 2019, the main regulatory development, in terms of its impact on Cayman regulated hedge funds, is The Monetary Authority (Amendment) Law, 2016. »

Jude Scott, Cayman Finance

Fintech to be a focus of continued innovation

Mon, 29/01/2018 - 12:44

Q&A with Jude Scott, Chief Executive Officer (CEO) of Cayman Finance… »

Lucy Frew, Walkers

Cybersecurity and data protection

Mon, 29/01/2018 - 12:50

By Lucy Frew, Partner, Walkers – Significant developments in the regimes for data protection and cybersecurity, together with increasing investor awareness, mean that these are key issues for hedge fund businesses in 2018. »

James Williams, Hedgeweek

Cayman-based crypto-asset funds need time to become ‘institutional’

Mon, 29/01/2018 - 12:54

The Cayman Islands is fast becoming the go-to jurisdiction for software developers and fund managers alike as they look to establish cryptocurrency funds and ride what is, if one looks at the price of Bitcoin, a hugely volatile wave. »

Marc Kish, Ogier

Third party litigation funding in the Cayman Islands: A shift in policy

Mon, 29/01/2018 - 13:04

By Marc Kish, Partner, Ogier – In a recent landmark decision of the Grand Court in A Company and A Funder, the Court has approved a third party litigation funding agreement and in doing so given a roadmap to funders as to what conditions it will apply in such cases. While previous decisions of the Grand Court have approved third party funding agreements in principle, the Court’s observations have until now been restricted to the use of funding for the benefit of impecunious liquidation estates. This was a case involving a large multinational seeking to take advantage of funding for other commercial reasons. »

Matthew Taber, Harneys

New regulations and legislation reinforce Cayman’s global position

Mon, 29/01/2018 - 13:08

The Cayman Islands has recently taken a number of measures to reinforce its position in the global financial services market. »

Richard Spencer, Campbells Legal

Cryptocurrency and distributed ledger technology

Mon, 29/01/2018 - 13:12

By Richard Spencer, Partner, Campbells Legal – The stratospheric rise in the value of cryptocurrencies throughout 2017, coupled with significant price volatility, caught the attention of the world at large. Opinions remain polarised, with regulators warning “Main Street investors” of the risks associated with purchasing virtual currencies and cryptographic tokens. The underlying distributed ledger technology is far less controversial, with well-known global financial institutions investing heavily in this space. »

Ignacio Griego, BDO

Establishing best practices for a crypto fund audit

Mon, 29/01/2018 - 13:17

For most new fund managers the concept of having to prepare for a financial audit is entirely novel. Knowing what is involved and how best to prepare, in terms of applying best practices, is a new discipline, yet it is one that is crucial to running a successful fund management business. »

Gary Smith, Loeb Smith

Cayman’s new AML/CFT regime

Mon, 29/01/2018 - 12:58

Q&A with Gary Smith, Partner, Loeb Smith Attorneys »

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