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Teaming Up for Term Loans February 2024 - Cayman Officially Removed From EU AML List

Following the end of a long-running process, the Cayman Islands has now officially been removed by the EU Commission from its list of ‘high-risk’ countries for AML/CFT purposes. ...more

Welcome to 2024: CWT’s European Fund Finance Market Insights January 2024 - Cayman Moves Closer to a List-Free Summer!

The Cayman Islands recently received an early Holiday gift when the EU Commission published a regulation in mid-December paving the way to remove Cayman from its list of ‘high-risk’ countries for AML/CFT purposes. The...more

Challenges of Taking Security over the Shares of a Licensed Insurer

Our insurance finance practice continues to grow at pace and is now regularly called on by clients to assist on credit facilities being put in place for Cayman licenced insurers. Traditionally the transactions and facilities...more

NAVember November 2023 - Great News for Cayman as FATF Removes Jurisdiction From its ‘Grey List’

The Financial Action Task Force last Friday announced that it was removing the Cayman Islands from its ‘Grey List’ for increased monitoring in AML matters. This listing has had no direct impact on the fund finance world...more

New Season, New Playbook September 2023 - The Imitation Game – Insurance, Reinsurance, Reinsurance Access Funds ... and Fund...

For many years, most bankers and finance lawyers assumed that any involvement in insurance or reinsurance projects meant venturing into the dark arts of financial services and exercising a degree of alchemy that only a...more

CIMA Updates and Extends the Scope of Its Corporate Governance Guidance to Cover Both Mutual Funds and Private Funds

The Cayman Islands Monetary Authority (CIMA) recently issued a new Statement of Guidance for Mutual Funds and Private Funds (Corporate Governance Guidance) which: - updates the current guidance applicable to funds...more

Cinco Celebration May 2023 - One (Cayman Corporate Governance) Rule to Rule Them All ...

The growth in regulation and oversight of private equity and venture capital funds (“Private Funds”) in the Cayman Islands has again taken a step forward with the recent introduction by the Cayman Islands Monetary Authority...more

Code Update: Get Ready March 2023 | Issue No. 214 - Cayman Counsel and Signature Block Comments – What’s the Deed?

Of the comments that Cayman counsel add to transaction documents, one of the points that seems to incur a raised eyebrow by U.S. counsel or lenders now and again is the addition of “executed as a deed” in signature blocks of...more

On the Side February 2023 | Issue No. 209 - Out of the PF Act Club and Into the Cold: When Would a Cayman Private Fund Be...

As the Fontainebleau once again prepares for an influx of fund finance professionals to its restaurants and nightclubs, we got to thinking about another kind of club (those funds registered with CIMA under the Private Funds...more

Conyers Coverage November 2022 – Issue 8 – Cayman Islands

A very warm welcome to our eighth edition of Conyers Coverage. As we start to wind down on 2022 #TeamConyers is already reflecting on what a hectic and exciting year it’s been for the Cayman Islands (re)insurance industry –...more

Rated Note Feeders and the Cayman Islands

The ongoing convergence of the private equity and insurance sectors has recently led private equity managers to innovate in their investment structures offered to investors – and in particular to insurers. From a Cayman...more

Conyers Coverage July 2022 – Issue 7 – Cayman Islands

We are pleased to bring you the summer 2022 edition of Conyers Coverage, the Cayman Islands insurance newsletter. The Cayman Islands insurance and reinsurance industry has had a strong start to the year and Conyers is...more

Don’t Look Back? - July 2022 | Issue No. 184 - Rated Note Feeders and the Cayman Islands – Lender FAQs

We are often asked by our clients: “What are you seeing? Anything interesting in the market on your side?” Our answer, as Cayman counsel, is more often than not that we are a ship floating in a tide and what they see as...more

Searching for Dragons to Slay - March 2022 | Issue No. 167: ‘NAV’igating Cayman LP Interest Security – Lender FAQs

As noted in our previous update, “‘NAV’igating Cayman Share Security – Lender FAQs,” fund finance lenders are increasingly encountering pledges of shares in SPVs incorporated in the Cayman Islands as part of the collateral...more

Views and News - February 2022 | Issue No. 161 - List’en Up – Cayman and the EU AML List – A Lender Update

As avid LinkedIn users will no doubt be aware, the EU’s focus on lists of various types continues and the Cayman Islands looks set to be added to the EU’s list of “high risk countries” for anti-money laundering at the end of...more

Just the FAQs - December 2021 | Issue No. 154 - ‘NAV’igating Cayman Share Security – Lender FAQs

As the universe of asset-based and hybrid facilities continues to expand, fund finance lenders are increasingly encountering pledges of equity interests issued by funds or SPVs domiciled in popular jurisdictions outside of...more

Thankful! - November 2021 | Issue No. 153 - Features of Cayman Fund Vehicles and the Curious Case of Padma Fund LP

Most people who have had a reasonable degree of interaction with Cayman funds and fund finance transactions will be well aware that different Cayman vehicles have distinct constructions and legal characteristics (in...more

Financing Transactions for Cayman Regulated Insurers

As a leading jurisdiction for the domicile of captive insurance companies and, more recently, reinsurance companies (together “insurance vehicles”), the laws of the Cayman Islands have a central role and require careful...more

Room for Optimism August 2021 | Issue No. 139 - The Cayman Private Funds Act 1st Anniversary – No Gifts Required!

It may be that you woke up last Saturday morning, spotted the date 7 August on your phone, and then had that feeling that you’d forgotten something of significance on this date – a birthday perhaps, or maybe worse, a wedding...more

Cayman Investor Notices Through the Ages (of Fund Finance)

As anyone who has ever worked on a subscription-based fund finance facility involving Cayman vehicles can tell you, there will at some point be engagement on the “investor notices.” ...more

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