The Cayman Islands remains the heart of the offshore hedge funds world, and it is well positioned to remain there even in a future driven by technology including artificial intelligence, Ingrid Pierce, global managing partner at Walkers, tells Cayman Funds.
Cayman’s anti-money laundering regime has been updated to take into account the recommendations of the Financial Action Task Force. Sailaja Alla at Appleby explains the implications of the changes.
Cayman has the opportunity to become a world leader in cryptocurrencies and associated technologies such as blockchain, says JS de Jager at Cayman Management, who argues to Cayman Funds that this burgeoning sector is no bubble.
The regulatory tide is shifting in the Cayman Islands and one demonstration of this has been the AML Regulations, which detail guidance to the industry on the requirements to conduct customer due diligence, says Sharon Williams of US Bancorp Fund Services.
International Management Services (IMS) is one of the leading providers of professional director services in the Cayman Islands. Sean Inggs, a professional independent director, offers his views on cybersecurity and cryptocurrency-related questions for hedge funds.
The dynamic landscape that is the Cayman funds sector with all its opportunities and challenges was debated by a panel of executives and politicians at the annual Cayman Funds roundtable hosted by EY. Regulatory changes, competition and the potential of cryptocurrencies were hot topics.
The Cayman Islands continues to be one of the top 10 international financial centres in the world. A modern, flexible, yet robust regulatory framework, and collaboration with relevant stakeholders will help it maintain this position, says Cindy Scotland, managing director of the Cayman Islands Monetary Authority.
The Cayman Islands holds a leadership position in the funds sector—but to maintain this will require adaptability and innovation, says The Honourable Tara Rivers, JP, MLA, Minister for Financial Services and Home Affairs.
Cryptocurrencies, blockchain and similar financial technologies hold enormous potential for the Cayman Islands, and it can take a leadership position in how they are regulated. Jude Scott, chief executive officer of Cayman Finance, explains how the newly launched Cayman Finance Innovation Lab is seeking to set the pace for the rest of the world.
Following careful due diligence and best selection practices when choosing a fund administrator is most likely to result in a good partnership, says Bob Kern of U.S. Bancorp Fund Services.