October 26, 2021

Cayman Islands: Privy Council upholds Court of Appeal Decision on CIMA powers

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On 13 July 2018, the Judicial Committee of the Privy Council in London issued a decision on 13 July to refuse Select Vantage Inc.’s application for permission to appeal a decision of the Cayman Islands Court of Appeal. In refusing Select Vantage Inc.’s application, at the very first stage, the Privy Council has effectively and […]

The Editor Speaks: Losing your home to foreclosure

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Today we have published an excellent article from The Cayman Islands Monetary Authority under the title of “Cayman Islands Monetary Authority issues Public Advisory: Understanding foreclosures”. It gives advice everyone should heed. Banks are merciless. They hold all the cards and they will take their pint of blood they are owed plus interest. CIMA’s article […]

Cayman Islands licenses 14 captives in Q2 2018

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From Captive International The Cayman Islands Monetary Authority issued 14 captive insurance licenses during the second quarter of 2018, including two portfolio insurance companies (PICs). As of June 30, 2018, there were a total of 698 Class B, C and D insurance company and 26 insurance managers under supervision. There were a total of 821 […]

Cayman Islands FTS to host seminar on Roles of MLRO, AMLCO & Deputy MLROs

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Following the Cayman Islands Monetary Authorities (CIMA’s) recent clarification on the various compliance roles of investment vehicles and other entities, local financial services training company, FTS, has announced it will be hosting a seminar on the roles of MLRO, AMLCO & Deputy MLROs for compliance professionals, CEOs and fun directors. “The seminar will provide delegates […]

Cayman Islands: Cayman Islands Monetary Authority – Quarterly Statistics, Investment Funds (To End Q1, 2018)

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Article by Matt Mulry, Jonathan Law and Christine Holland Dillon Eustace From Mondaq The Cayman Islands Monetary Authority (CIMA) has published statistics for the numbers of private investment funds registered with them across various categories and in aggregate (typically excluding PE and VC) as at the end of Q1, 2018. (http://www.cima.ky/investment-statistics) The statistics show continued […]

Cayman Islands Monetary Authority release public advisory on virtual currencies

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The Cayman Islands Monetary Authority (CIMA) is issuing an advisory on the potential risks of investments in Initial Coin Offerings (ICOs) and all forms of virtual currency. Customers should thoroughly research virtual currencies, digital coins, tokens, and the companies or entities behind them in order to separate fiction from facts. The recent publicity surrounding virtual […]

33 new captives for Cayman Islands last year

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From Captive Insurance Times The Cayman Islands Insurance Supervision Division licensed 33 new captive insurance companies last year, in comparison to the 39 it licensed in 2016.The year-end statistics from the Cayman Islands Monetary Authority (CIMA) showed that 48 licenses had been canceled in 2017, meaning as of 31 December 2017 there were a total […]

Cayman Islands 2016 Investments Statistical Digest published

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The Cayman Islands Monetary Authority (CIMA) is pleased to release its 10th edition of the Investments Statistical Digest. The document captures information that is required to be filed by all regulated funds via the Funds Annual Return (FAR) through CIMA’s electronic reporting systems, up to financial year-end, December 2016. Various industry trends throughout the document […]

Assets of Cayman Islands hedge funds up but number of funds down

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By Komfie Manalo, Opalesque Asia: The number of Cayman-registered hedge funds fell in 2016, according to data from the 2016 Investment Statistical Digest published by the Cayman Islands Monetary Authority (CIMA). However, the value of assets by the industry rose during the same year. The report showed a 3.2% decline from the 2015 figures as […]

Cayman Island Insurance Company formations clipping along in 2017

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To date for 2017, the Cayman Islands Monetary Authority (CIMA) has issued 23 new insurance company licenses. This count includes 20 Class B licenses, 11 of which represent third-party insurers, and 3 Class C licenses. The 2016 year ended with a grand total of 39 new insurer licenses, following 22 in 2015 and 23 in […]