Please be advised of the CIMA extension to the notification deadline for funds

Further to our e-zine dated 9 February 2018, the CIMA has reaffirmed its position on AML/CFT requirements and, as previously communicated by DMS, has confirmed that natural persons must be appointed for the AMLCO...

On 13th December, 2017, the Cayman Islands Monetary Authority ("CIMA") issued their updated Guidance Notes under the new AML Regulations which came into effect on 2nd October, 2017.

Amendments to Cayman legislation for corporate entities (including LLCs) have been put in place in order to facilitate the establishment of a regime permitting more rapid searches of beneficial ownership...

A fund based in Ireland or Luxembourg may be used if distribution in the EU is a significant part of the fund raising strategy."

In an article titled, ‘Lots More Offshore‘, the June 2016 issue of China Business Law Journal discusses the growing trend of private Chinese companies and High Net Worth Individuals investing in offshore financial centers.

Don Ebanks, Managing Director of DMS Offshore Investment Services, discusses changes to the fund governance landscape in the Cayman Islands in recent years.

Mr. Ebanks joined other industry experts as they weighed in on theCayman Islands Court of Appeal decision to overturn the 2012 Grand Court ruling in the Weavering Macro Fixed Income Fund case.

With the Directors Registration & Licensing Law now up and running, CIMA is placing more emphasis on supervising directors to Cayman funds.

Continuing with our Legal Focus on Foreign Investment, Lawyer Monthly speaks to Don Ebanks, an Executive Director and the Chief Compliance Officer of DMS Offshore Investment Services.

On 6 December 2013, after a period of consultation with industry practitioners, the Cayman Islands Monetary Authority – the Islands’ financial regulator – released its Statement of Guidance for Regulated Mutual Funds.

On October 29th, 2014 in Berlin, Germany, the Cayman Islands and 50 other jurisdictions signed on to the OECD Multilateral Competent Authority Agreement ("MCAA") for the implementation of the automatic exchange of tax information, based on the OECD’s Multilateral Convention on Mutual Administrative Assistance in Tax Matters ("Multilateral Convention").