CAYMAN FINANCE NEWS

July 26, 2016Harneys Cayman supports local talentHarneys staff recently completed the nine-week Cayman Finance Mentor Programme, which provides Caymanian students with information about the financial services industry, including employment opportunities in various sectors within the industry. Harneys mentors helped students develop their professional skills, with a focus on interviewing, resume building, and increasing their understanding of the Cayman financial services industry and its important role in […] MORE >
July 26, 2016Hedge Fund passport soughtRecently, we learned Cayman is making progress of setting up rules and agreements that will allow the country to be eligible for a hedge fund passport. However, at the moment it is a waiting game. Cayman Finance CEO Jude Scott explains the importance of this special passport.   Click here to view the video. MORE >
July 26, 2016Cayman Islands enhances role as premier global financial hub with innovative new LLC lawMr Jude Scott, CEO of Cayman Finance said the Cayman Islands financial services industry welcomed the Cayman Islands limited liability company (LLC) regime which became operational, following the 8 July publication of the Limited Liability Companies Law, 2016 (Commencement) Order 2016, and the publication of underlying related regulations.   “This new LLC law will give our industry a competitive advantage […] MORE >
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 >

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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