Client Advisories
Sign up here to receive updatesNew deregistration rules for Cayman Islands regulated funds
06 Oct 2022CIMA has recently issued an updated rule and regulatory procedure in respect of the cancellation of licenses or certificates of registration for regulated mutual funds and registered private funds respectively.
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Sequana: Directors’ Duties and Creditors
05 Oct 2022The Supreme Court in England in BTI v Sequana [2022] UKSC 25 has clarified when directors owe duties to the company that should take into account creditors’ interests. The decision will be highly persuasive in the Cayman Islands on directors’ duties.
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Cayman Islands issues general sanctions licence for funds industry
05 Oct 2022The issue which the General Licence addresses is where a Designated Person owns more than 50% of an investment fund which has hitherto meant that the fund is paralysed and all of its assets are frozen. This provides relief from aspects of the financial sanctions imposed in the Cayman Islands by the Russia (Sanctions) (Overseas Territories) Order 2020 (the “Order”).
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