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CIMA supports International Fraud Awareness Week
The Cayman Islands Monetary Authority (CIMA), in conjunction with the Royal Cayman Islands Police Service’s Financial Crimes Unit (FCU) and the Cayman Islands Chamber of Commerce, hosted a seminar to mark International Fraud Awareness Week in November.
CIMA signs MOU with Austria
The Cayman Islands Monetary Authority (CIMA) has signed a Memorandum of Understanding (MOU) with Finanzmarktauficht of Austria, which provides for mutual assistance regarding supervising managers of alternative investment funds who operate on a cross-border basis in both jurisdictions.
Cayman Government moves towards FATCA timeframe
The Cayman Islands Government expects to announce the timeframe for the signing of intergovernmental agreements (IGA) with both the US and the UK on FATCA in the near future.
CIMA seizes control of suspected Ponzi scheme
The Cayman Islands Monetary Authority (CIMA) has seized control of AAA Venture Fund SPC Limited. Press reports have suggested the CIMA suspects the fund was acting as an alleged Ponzi scheme.
Independent directors must be beyond scrutiny
As regulators and investors place ever more scrutiny on corporate governance, the appointment of experienced and qualified independent directors has become ever-more critical and firms should check the suitability of directors on a number of fronts before confirming appointments.
CIMA partners on training for banking supervisors
The Cayman Islands Monetary Authority (CIMA) recently partnered with the Association of Supervisors of Banks of the Americas (ASBA) and the Caribbean Group of Bank Supervisors (CGBS) to host a five-day Banking Analysis and Examination School for banking supervisors in the Caribbean.
Intertrust hires fiduciary expert from Deloitte
Intertrust, a provider of trust and corporate management services, has expanded its fiduciary team in the Cayman Islands and in Singapore.
Conference to cover new rules for Cayman funds
Law firm Walkers will hold its annual hedge fund seminar in November. 'Everything Offshore 2014' will hold events in New York and San Francisco.
Weavering case throws spotlight on directors’ duties
A recent case heard by The Grand Court of the Cayman Islands in which the directors of a hedge fund were found responsible for willful neglect and default and ordered to pay over $110 million each in fines, represents a timely reminder that directors of hedge funds should not only do their duty but must also be seen to do their duty.
UK Prime Minister acknowledges transparency
Business leaders in the Cayman Islands have welcomed comments by UK Prime Minister defending Crown dependencies and overseas territories from having a reputation as tax havens.
