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Cayman Islands investment funds in Europe

Article by Henry Smith From Maples In July 2016 European politics were profoundly shaken when UK voters unexpectedly opted by a narrow margin in a referendum for the UK to “Brexit” the EU. It is too early to say whether…

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The evolution of independent governance and board diversity

From hedgeweek Individuals who serve as independent non-executive directors, like it or not, operate in a role which is constantly evolving. This evolution is not only in parallel with changes in investment funds business but also in terms of regulation…

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AIFMD Consistent Regimes for the Cayman Islands

By Tim Clipstone, Jon Fowler, Jonathan Green, Philip Ireland, Barry McGrath, Peter Stapleton, Anthony Webster, Paul Govier, Harjit Kaur, Tom Katsaros From Maples and Calder The Mutual Funds (EU Connected Fund (Alternative Investment Fund Managers Directive)) Regulations, 2016 (“Fund Regulations”)…

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ESMA advice extending the AIFMD Passport: Including the United States, Hong Kong, Singapore and Switzerland

By Michelle Falcucci and Winston Penhall Reed Smith LLP From Private Funds Law Posted in Alternative Investment Fund, Hedge Funds, Private Equity, Real Estate Funds, Regulation, United States On 18 July 2016 the European Securities and Markets Authority (ESMA) published…

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AIFMD Passport Extension: Hurry up and wait

By Sean M. Tuffy August 1, 2016 Articles What does the recent ESMA decision on the AIFMD Passport extension mean for non-EU hedge fund managers? Since ESMA recommended extending the AIFMD passport to Switzerland, Jersey, and Guernsey last year, the…

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Cayman Finance Statement on ESMA’s AIFMD Passport Advice

Posted on July 31, 2016 With the news today from the European Securities and Markets Authority (“ESMA”) deferring its recommendation to the European Commission (“EC”) that the Cayman Islands (along with several other countries) be considered for a “third country…

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ESMA advice encouraging for Cayman

From Mourant Ozannes AIFMD Passporting: getting closer On 19 July 2016, the European Securities and Markets Authority (ESMA) released its latest advice1 on the extension of the AIFMD2 passport to non-EU alternative investment fund managers (AIFM) and alternative investment funds…

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Depo-lites could need to evolve to survive

By Charles Guber From Global Custodian The Alternative Investment Fund Managers Directive (AIFMD) forced fund managers including hedge funds and private equity firms to appoint either a depositary institution or depositary-lite (depo-lite) to provide independent oversight of asset safekeeping, cash-flow…

ESMA backs Guernsey for AIFMD passport

From Offshore Bankers Guernsey has been recommended for a ‘third country’ passport under the Alternative Investment Fund Managers Directive by the European Securities and Markets Authority. The independent EU regulatory authority has assessed Guernsey, alongside 11 other non-EU jurisdictions, as…

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The impact of ESMA’s AIFMD passport ruling [on Cayman Islands]

By Jonathan Watkins From Global Custodian Experts weigh in on ESMA’s advice on AIFMD passports for 12 non-EU countries which could affect US and Cayman Island-based funds. Industry experts have told Global Custodian that the effect of Europe’s ruling on…