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Cayman Funds 2016

HEALTHY, STABLE, AND RESPONSIBLE As part of its strong core approach, Cayman recognises that innovative legislation and regulatory compliance is its muscle, and staying abreast of investor trends is its lifeblood, says Wayne Panton, Minister for Financial Services, Commerce and Environment. continues to successfully manage our international tax cooperation responsibilities. AIFMD The European Securities and Markets Authority (ESMA) has confi rmed that Cayman will be included in the ‘second wave’ of its technical assessment of non-EU countries, due for completion this June, for AIFMD. In preparation, in 2015 Cayman’s Legislative Assembly passed the Securities Investment Business (Amendment) Law 2015 and the Mutual Funds (Amendment) Law 2015, which would facilitate the extension of the AIFMD passport to the Cayman Islands. This passport would allow Cayman-based funds to be blanket-marketed across the EU, therefore eliminating our reliance on the more involved National Private Placement Regime. Because government and the private sector continue to invest time and energy into our vital funds sector, the number of funds in the Cayman Islands remains in line with global trends; indeed, we’ve experienced steady growth in overall assets managed. Our leading market share bears out the prudency and wisdom of continuing our core approach—which, albeit simple, requires deep knowledge, experience and skill—of meeting investor needs while maintaining our track record of adhering to global standards. We are therefore well prepared for the EU’s Alternative Investment Fund Managers Directive (AIFMD) and we recently published the highly anticipated Limited Liability Companies (LLCs) Bill. Moreover, regulations for limited liability partnerships (LLPs) are in draft, and we are positioning ourselves for a trio of global assessments, scheduled for this year and 2017. This activity comes while Cayman 8 CAYMAN FUNDS | 2016 Shutterstock / Ditty_about_summer


Cayman Funds 2016
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