Industry News

September 2011 - Harbour is pleased to announce that Mr. Greg Bennett has joined Harbour and has been appointed to its Board of Directors.

Greg, who is a well known figure in the local and international fund community, is a welcome addition to Harbour. His broad expertise with investment funds, fund administration and business development enhances an already strong Harbour Board.  Prior to joining he most recently held the position of Managing Director at HedgeServ – global hedge fund administration firm, whose Cayman office he established in 2010.

Appleby, the world’s largest provider of offshore legal, fiduciary and administration services, was named “International Legal Team of the Year 2011/12” at the prestigious Step Private Client Awards 2011/12 held in London on Thursday 15 September 2011. The Awards ceremony, held at the London Hilton on Park Lane Hotel, was attended by over 670 professionals in trusts, estates and private client work.

The Cayman authorities have signed their 25th Tax Information Exchange Agreement (TIEA) with Guernsey, in a move which commentators have said reinforces Cayman’s commitment to complete tax transparency.

“The new agreement is good for both Guernsey and Cayman for a reason which is more fundamental than the funds industry in either jurisdiction,” says Robert Duggan, partner at Mourant Ozannes.

“It reinforces the message that, when the government of the Cayman Islands and that of Guernsey affirms its commitment to tax transparency and cooperation on matters of tax information exchange, it is not a cynically self-interested gesture which they press home through TIEAs only with 'onshore' jurisdictions, but rather the commitment is universal.

“It is of course beneficial to the funds industry in the Cayman Islands because of the building body of evidence of the Cayman Islands' commitment to tax transparency and cooperation—factors which will be taken into account in any peer assessment of the Cayman Islands' product in terms of Europe's Directive on Alternative Investment Fund Managers.

“It is yet further evidence that Cayman is part of the international finance world's mainstream, and that the jurisdiction is committed to maintaining its position there.”

Appleby is pleased to welcome Angelina Partridge to the firm’s Corporate and Commercial Practice Group.

She joins as a member of the Funds and Investment team.

London – August 2011: The Alternative Investment Management Association
(AIMA), the global hedge fund association, has responded to the temporary
short selling bans introduced by France, Italy, Belgium and Spain.