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AIMA sets out guidelines for AIFMD compliance
The Alternative Investment Management Association (AIMA), the global hedge fund industry association, has published a new set of practical guides for hedge fund managers wishing to comply with the Alternative Investment Fund Managers Directive (AIFMD).
Convention on tax assistance extended to Cayman
Representing a significant development in the Cayman Islands’ transparency framework, the OECD/Council of Europe Convention on Mutual Assistance in Tax Matters has been extended to the jurisdiction, and will become effective on January 1 2014.
Cayman Islands and UK sign FATCA-type agreement
The Cayman Islands and the UK have signed a FATCA-type intergovernmental agreement (IGA), preparing the way for Cayman to automatically share financial information with the UK on UK taxpayers who hold Cayman Islands accounts.
Panton agrees to assess beneficial ownership
Wayne Panton, Minister for Financial Services, has said the Cayman Islands will assess its regime on beneficial ownership and whether a central registry of beneficial ownership is the most appropriate and effective way to improve transparency.
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.
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.
Beware of AIFMD implications, warns law firm
While the implications of the Foreign Account Tax Compliance Act (FATCA) and US regulatory rules arising out of the Dodd-Frank Act have generally been considered by US based fund managers, the European Union's Alternative Investment Fund Managers Directive (AIFMD) also has the potential to raise regulatory issues that may not be well understood.
Carne Group appoints fund expert
Carne Group, a provider of governance solutions to the global fund management industry, is expanding its Cayman Islands office with the appointment of Vanessa Barrett to its team of independent fund directors.
Four appointed to be Queen's Counsel
With the approval of the Secretary of State for Foreign and Commonwealth Affairs, the Rt. Hon William Hague MP, His Excellency the Governor of the Cayman Islands has appointed four individuals to be Queen's Counsel.
