While the total number of funds domiciled in the Cayman Islands decreased slightly between 2015 and 2016, net assets under management increased as a result of asset appreciation. In 2016, the Cayman Islands maintained its position as the most popular destination for net asset value (NAV) calculation services.
EY Cayman has added a new partner. LaNishka Farrington-McSweeney has more than 17 years of audit and assurance experience in the financial services industry, including extensive expertise in the banking sector, anti-money laundering and regulatory issues.
The Alternative Investment Management Association (AIMA), the global representative of alternative investment managers, has signed a Memorandum of Understanding (MoU) with the Insurance Asset Management Association of China (IAMAC), a self-regulatory organisation for China’s national insurance asset management industry.
Harneys has hired Nicole Pineda as a partner and head of banking and finance in its Cayman office.
Genesis Trust & Corporate Services has made two appointments. Marcus Parker and Dawn Howe both joined the team in January.
Cayman Finance has elected Conor O’Dea, the former managing director of Butterfield Group, as its new chairman at the recent annual members’ meeting.
Alternative Investment Management Association (AIMA), the global representative of alternative investment managers, has published a GDPR Implementation Guide to help members understand and comply with new EU-wide rules that come into effect on 25 May.
Offshore law firm Carey Olsen has expanded its finance practice in the Cayman Islands with the appointment of attorney Adam Bathgate as counsel.
The Board of the International Organization of Securities Commissions (IOSCO) has published its Report on the Fourth IOSCO Hedge Fund Survey, which provides regulators new insights into the global hedge fund industry and the potential systemic risks this industry may pose to the international financial system.
The chief executive of Cayman Finance, speaking on behalf of businesses on Cayman, has welcomed the outcome of a 10 month investigation by the European Union that has excluded the Cayman Islands from a so-called blacklist of countries that it claims are not doing enough to crack down on offshore avoidance schemes.