Legal Insights

By way of an update on our recent publication (which can be found here) that the Financial Action Task Force (FATF) had determined that the Cayman Islands has substantively fulfilled its action plan, and following completion of a recent on-site visit by the FATF, the Cayman Islands has…

In The Matter of Padma Fund L.P. [FSD 201 of 2021] (RJP), the Cayman Grand Court held that the Cayman Court does not have jurisdiction to order the winding up of a Cayman exempted limited partnership (“ELP”) on the basis of a creditor’s petition for the winding up…

The Cayman Islands Monetary Authority (“CIMA”) published a new Rule – Corporate Governance for Regulated Entities (“Rule”) and a new Statement of Guidance relating to Corporate Governance – Mutual Funds and Private Funds (“Statement of Guidance”) on 14 April 2023. In essence, both the Rule and the Statement…

Learn about the key steps for forming and running private funds in the Cayman Islands, including registration with CIMA, compliance with the Private Funds Act, and ongoing regulatory obligations for fund management, audits, and asset valuation.

Globalization is defined as the process of interaction and integration among people, companies, and governments worldwide. It is primarily an economic process of interaction and integration causing a growth in international trade and the exchange of ideas, beliefs, and culture.

The British Virgin Islands (BVI) and the Cayman Islands remain among the most popular jurisdictions for incorporating cryptocurrency trading vehicles. For example, the bankrupt cryptocurrency exchange FTX Trading identified that 22% of its customer base is located in the Cayman Islands, with 11% in the BVI. This is…

Learn about BVI Professional Funds, including their key features, recognition requirements, service provider obligations, and compliance regulations. Discover the financial record-keeping and annual filing requirements essential for managing a professional fund in the BVI.

Administrative Fines Regulations in respect of Cayman Private Funds 1.1. The administrative fine regime in the Cayman Islands was implemented pursuant to the Cayman Islands’ Monetary Authority (Administrative) Fines (Amendment Regulations), 2020, as amended (“Administrative Fines Regulations”) and extend the application of the fines administered by CIMA from…