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
1/8/2024
/ AML/CFT ,
Anti-Corruption ,
Anti-Money Laundering ,
Cayman Islands ,
Corruption ,
EU ,
FATF ,
Financial Crimes ,
Financial Institutions ,
Financial Transactions ,
Investment Funds ,
Money Laundering ,
Regulatory Oversight ,
Terrorism Funding ,
Terrorist Financing Regulations
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
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
8/8/2023
/ Anti-Money Laundering ,
Cayman Islands ,
CIMA ,
Conflicts of Interest ,
Corporate Governance ,
Fund Managers ,
Investment Funds ,
Mutual Funds ,
Regulatory Agenda ,
Regulatory Oversight ,
Regulatory Requirements ,
Required Documentation ,
Risk Management
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
5/8/2023
/ Capital Markets ,
Corporate Governance ,
Financial Services Industry ,
Investment ,
Investment Funds ,
Investors ,
Lenders ,
Loans ,
Mutual Funds ,
Private Equity ,
Private Funds ,
Venture Capital
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
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
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
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
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
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
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
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