CAYMAN FINANCE NEWS

July 21, 2016The impact of ESMA’s AIFMD passport rulingIndustry experts have told Global Custodian that the effect of Europe’s ruling on AIFMD passports for the Cayman Island should be minimal. The European Securities and Markets Authority (ESMA) deemed that it could not give definitive advice with respect to the criteria on investor protection and effectiveness of enforcement for the Cayman Islands. This sparked a quick response from Cayman […] MORE >
July 19, 2016Cayman Finance Statement on ESMA’s AIFMD Passport AdviceWith the news today from the European Securities and Markets Authority (“ESMA”) deferring its recommendation to the European Commission (“EC”) that the Cayman Islands (along with several other countries) be considered for a “third country passport” under the Alternative Investment Fund Managers Directive (“AIFMD”), Cayman Finance CEO Jude Scott, stated that:   “Given the large number of alternative investment funds […] MORE >
July 5, 2016Cayman in strong position post-Brexit: Cayman FinanceJude Scott, chief executive officer (CEO) of Cayman Finance, has said that the Cayman Islands is in a strong position following the UK’s decision to leave the European Union. Scott commented: “As the premier global financial hub the Cayman Islands financial services industry will continue to work closely with its clients and countries around the world to resolutely do its […] MORE >
July 1, 2016Cayman can face any change after Britain’s exit from EU – ScottCayman Islands is in a strong position to face any change amid Britain’s historic vote to exit the European Union, according to Cayman Finance CEO Jude Scott. Scott said the country’s own political and economic stability, its sophisticated and comprehensive legal system as well as stable and business-focused government means Cayman, as a British-overseas territory can handle the transition. He […] MORE >
June 29, 2016Cayman seeks opportunity in Brexit aftermathCayman Islands leaders are seeking silver linings amid global political and economic turmoil in the wake of Britain’s decision to leave the European Union. The Brexit referendum result Friday immediately led to the resignation of British Prime Minister David Cameron and saw financial markets tumble, while the British pound plunged to a 30-year low against the U.S. dollar. The result […] MORE >

UPCOMING EVENTS

ASHRM 2016 Annual Conference & Exhibition

Date: September 25-28,2016

Location: Orange County Convention Center in Orlando, FL

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Mourant Ozannes’ International Trusts & Private Client Conference

Date: October 7, 2016

Location: The Ritz Carlton, Grand Cayman

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Next Generation Influencers Kickoff Cocktail Reception

Date: October 20, 2016

Time: 5:30pm – 7:30pm

Location: TBC

 

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Next Generation Inspire Launch Event

Date: October 21, 2016

Time: 12:00pm – 6:00pm

Location: TBC

 

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IBC’s International Trusts and Private Client Cayman Forum

Date: October 24, 2016 – October 25, 26

Time: 8:00am-6:00pm

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CAYMAN NEWS

July 18, 2016New Head of Insurance Supervision Division AppointedFollowing a competitive recruitment process, both internally and externally, Mr. Ruwan Jayasekera has been confirmed to the post of Head of the Insurance Supervision Division at the Cayman Islands Monetary Authority (CIMA) effective 14 July 2016.   Mr. Jayasekera, with over 15 years of regulatory and insurance experience, is well known to the industry.   He first joined CIMA in […] MORE >
July 12, 2016New reinsurer Alesia Re domiciles in CaymanNew reinsurance company, Alesia Re, SPC received regulatory approval from the Cayman Islands Monetary Authority to act as a Class D reinsurer. The segregated portfolio company will focus on reinsuring large blocks of pension risk transfer group annuity contracts and other low convexity and long-duration annuity business. In addition, the firm’s objective is to provide sustainable risk-sharing capacity through structuring, […] MORE >
July 12, 2016Cayman Islands updates policy on audit waivers for Cayman fundsFollowing industry consultation in early 2016, the Cayman Islands Monetary Authority (CIMA) has published an updated policy on exemptions from the annual audit requirement for regulated Cayman Islands investment funds (the Policy). The Policy clarifies CIMA’s existing approach on granting exemptions in various situations and introduces new circumstances when an exemption may be available. When does the Policy apply? The […] MORE >

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