28 March 2013 · Cayman Finance says that the recent legislative amendment to facilitate the marketing of Cayman funds in Europe is another step in the jurisdictions continued success in the hedge funds sector globally.
The amendment allows the CIMA to enter into MOUs with its EU counterparts, using a model MOU developed by the European Securities Markets Authority (ESMA).
Noting that the Cayman Islands has already signed up to numerous treaties and agreements and was known as a globally cooperative jurisdiction, Mr. Gonzallo Jalles, CEO of Cayman Finance, said that the recent amendment was in line with the existing approach that Cayman took on cross border cooperation over the past decade.
"The Cayman Islands has been a party to numerous international agreements including over 30 Tax Information Exchange Agreements and has been one of the leading jurisdictions in terms of compliance with international regulatory standards", said Mr. Jalles.
This amendment solidifies our existing attraction to international investors based in Europe. Our financial services providers will continue to compete in Europe on the basis of a well-known professional infrastructure and a brand in the fund space that is second to none", he added.
For further information on Cayman Finance, please visit www.caymanfinance.ky.
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