Staying Ahead Of The Game - Marco Martins And Patrick Colegrave, Of Harney Westwood & Riegels, Explain How Cayman Is Adapting To Change So As To Remain The Jurisdiction Of Choice For The Alternative Investment Industry

2013 is lining up to be a pivotal and successful year for both the Cayman Islands and the global hedge fund industry. Many of the developments which started in the last decade, ranging from worldwide regulatory and financial consequences of the financial crisis of 2008 to the ongoing evolution of the international regulatory framework governing international Financial centres, are now culminating in actions taking effect in 2013 and soon thereafter. From the implementation of the Alternative Investment Fund Managers Directive (AIFMD) to the Foreign Account Tax Compliance Act (FATCA) by the US, change is finally set to hit the hedge fund industry and the Cayman Islands.

In this article we look at how the Cayman Islands has prepared for this pivotal year, and why we believe Cayman is well positioned to remain the preferred jurisdiction for alternative investment vehicles. What we see is an industry in the Cayman Islands that has taken the necessary steps to maintain its competitive advantages and strengthen its offering.

Originally published in HFMWEEK.COM - 2013.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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