David Bentley
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UBS defection to Ireland sparks fund flight concern
(CNS Business): The Cayman hedge fund industry has come under attack again after a high profile fund structure redomiciled to Ireland, prompting claims that “hundreds” more will follow suit, alongside suggestions that Ireland is poised to capitalise on the uncertainty surrounding EU access for Cayman funds.
Financial industry facing up to outsourcing rules
(CNS Business): Keeping up its focus on improving the way business is conducted in Cayman, the Cayman Islands monetary Authority (CIMA) has laid down guidelines for the financial services industry on how firms may outsource key activities and regulatory functions. By introducing these rules, CIMA is seeking to protect the industry from exposure to greater risks […]
Legislative amendments establish AIFMD opt-in framework
(CNS Business): Some key amendments to financial services legislation have taken the Cayman Islands a step further towards participating in the EU’s Alternative Investment Fund Managers Directive (AIFMD), while Cayman awaits confirmation from European regulators that it will receive its AIFMD passport for full future access to the EU market.
Bermuda in sights for Cayman law firms
(CNS Business): Two Cayman law firms have announced plans to establish an office in Bermuda, highlighting a resurgence in international business for one of Cayman’s key offshore competitors. While Cayman sees a regular influx of law firms from abroad, an international firm has never set up in Bermuda before, so assuming all the relevant regulatory clearances […]
Canadian conference call for Cayman captives
(CNS Business): Representatives from the Cayman Islands captive insurance industry are heading to a major conference in Canada to highlight the benefits of Cayman as a domicile to a key target market. The 2015 Risk and Insurance Management Society (RIMS) Canada Conference is being held in Quebec City from 27 to 30 September and the Insurance […]
Novel court case sets fair value in statutory merger dissention
(CNS Business): A recent case before the Cayman Islands Grand Court has provided highly anticipated guidance on calculating the fair value of a dissenting investor’s shares, following the successful completion of a statutory merger. Statutory mergers have been part of the Companies Law since 2009, allowing a faster, more efficient route for many corporate transactions, such […]
CIMA takes aim at corporate governance standards
(CNS Business): The Cayman Islands Monetary Authority (CIMA) is seeking to raise standards of corporate governance across the financial sector, building on its previous directives for the investment fund sector and bringing Cayman into line with international best practice. The regulator kicked off a private sector consultation exercise last month to gather industry feedback on its […]
Industry award highlights Cayman’s captive record
(CNS Business): A major industry accolade for the Cayman Islands captive insurance sector has highlighted the strengths of this jurisdiction as a domicile for insurance and alternative risk transfer products. Cayman was recently named the ‘Top Offshore Domicile’ in the 2015 US Captive Service Awards, organised by Captive Review magazine. Traditionally known for being the second largest […]
Cayman moves up GFCI rankings
(CNS Business): The Cayman Islands has taken a big leap in the most recent rating of financial centres, the Global Financial Centres Index 17 (GFCI 17). In the March 2015 report, Cayman moved up 15 spots in the global listings since last year, surpassing competing jurisdictions like the Channel Islands, Bermuda and the Bahamas.
Calling all marketing professionals
(CNS Business): Cayman Island’s Marketing Professional Association (CIMPA) is looking for local marketing experts who have excellent marketing techniques and present outstanding qualities to be recognized for their 2015 Marketing Awards. CIMPA officials said the launch of their new annual awards programme is set to identify exceptional marketing practices in Cayman and highlight individuals on their […]
Cayman’s newest airline delays launch
(CNS Business): The take-off of a newly launched airline, with plans to create around 100 jobs in Grand Cayman, has been delayed. The Cayman-based airline, called BlueSky Airlines, said it’s battling turbulent times after the company they were receiving their aircrafts from shut down. The airline aims to offer flights from Grand Cayman to destinations […]
Stay-over tourism numbers soar
(CNS Business): The Cayman Islands continue the record-breaking trend into 2015 when it comes to stay-over guests on the islands. In what tourism officials are expecting to be the best year yet, so far the islands have welcomed a total of 70,164 people in air arrivals for the month of January and February combined. A […]
Brokers break away from CIREBA
(CNS Business): The majority of realtors in Cayman are members of the not-for-profit industry organisation, the Cayman Islands Real Estate Brokers Association (CIREBA). However, many real estate company owners are speaking out and telling CNS Business it’s time break away from the organisation’s “stranglehold” and make a change.
UK demands ownership registry
(CNS Business): UK leaders have been battling with British overseas territories and crown dependencies to “open their books” and comply with the demands to create a beneficial ownership registry, which would affect around 2.5 million companies. Now, offshore financial centres, including the Cayman Islands, are being told to end their fight against beneficial ownership and reveal the […]
ESO’s annual surveys start Monday
(CNS Business): Starting on Monday 30 March, the Economics and Statistics Office (ESO) will conduct multiple surveys to measure the economic performance in the Cayman Islands. The annual surveys apply to all who produce goods and services in the area.
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