November 22, 2019

Important Cayman Islands Securities Investment Business Law Changes

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Last Updated: 24 July 2019Article by Alan Dickson and Maree MartinConyers Conyers From Mondaq The Cayman Islands Securities Investment Business Law (2019 Revision) (the “SIB Law”) has been amended by the Securities Investment Business (Amendment) Law, 2019 (the “Amendment Law”) to, amongst other things, require certain “excluded persons” who currently benefit from an exemption from the requirement to be licensed under the SIB Law […]

iNews Briefs & Community Events

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Application Processing Delays – Cayman Islands Department of Planning Staff at the Department of Planning would like to apologise to its valued customers for a delay in processing applications. This is due to network connectivity issues. The Department is working hard to ensure prompt service will return as soon as possible. Partial Road Closure on […]

Cayman Islands showcased as a premier financial services jurisdiction to New York audience

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The strength of the Cayman Islands financial services industry and its benefits to global partners, particularly those in the United States, was on show as Cayman Finance hosted a pair of events in New York on 22 January. More than 170 attendees gathered at the Harvard Club of New York City for the 6th Annual Cayman […]

Cayman Islands Monetary Authority Charity Walk/Run raises over CI$18,000

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The Cayman Islands Monetary Authority (“CIMA” or “the Authority”) held its second annual  5K & 10K Charity Walk/Run in May earlier this year, and the Authority is proud to note that this year’s proceeds surpassed the amount raised last year. This time around, the event raised a total of CI$18,150. The funds were donated to […]

LA Statement by Cayman Islands Minister on Financial Services introducing a digital assets framework

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Legislative Assembly Statement Minister of Financial Services, the Hon. Tara Rivers, JP, MLA Update on Financial Services – Introducing A Digital Assets Framework Second Meeting of the Legislative Assembly 2018/2019, 14 November 2018 Mister Speaker, I rise to make a statement about efforts which are being made by the Government, specifically through the work of […]

Cayman Islands’ offshore banking sector dropped in 2017

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By: Pedro Gonçalves From International Investment Offshore banks reported losses of $1bn last year, an improvement of the $2bn of net losses in 2016, according to the Cayman Islands Monetary Authority’s 2017 banking digest. “While the sector reported reductions in Operating Expenses of $0.9bn, Net Interest Income and Net Non-interest Income reported significant declines of […]

Undertaking Voluntary Liquidations of Cayman Islands Entities prior to 31 December 2018.

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From Loeb Smith Voluntary liquidations generally As the conclusion of 2018 approaches, clients should give some thought to whether or not they have Cayman entities which they wish to liquidate prior to the end of 2018 for, among other things, the pur- pose of avoiding annual government registration fees due in January 2019. A voluntary […]

Cayman Islands’ Investment Funds show continued stability

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Cayman Islands: Cayman Islands Monetary Authority – Quarterly Statistics, Investment Funds (To End Q2, 2018) Article by Matt Mulry and Jonathan Law, 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 […]

Cayman Islands Monetary Authority signs MOU with Insurance Commissioner Group

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The Cayman Islands Monetary Authority (“CIMA” or “the Authority”) signed a memorandum of understanding (MOU) with The National Association of Insurance Commissioners (NAIC) on 4 August 2018. The signing took place during a meeting of the International Insurance Relations (G) Committee at the 2018 NAIC Summer National meeting held in Boston. The MOU is designed […]

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 […]