Sat, Oct 25, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Cayman board directors, and Cayman, can no longer ignore other jurisdictions’ rules

Tuesday, January 15, 2013

Benedicte Gravrand, Opalesque Geneva:

The trend to increased regulation has changed how investment managers, along with their independent board, are operating. Today, board members are required to know a lot more about the laws and regulations where the fund manager is based, jurisdictions where they invest and jurisdictions where they raise capital. As a consequence, independent fund directors face a lot more scrutiny and pressure. But, most industry experts agree that corporate governance and board composition has measurably improved, for example by including more directors with an actual investment management background or from different geographies.

"One of the biggest impacts within the Cayman Islands from a director’s perspective is the increased onshore regulations that we need to deal with today," said Gary Linford, founder of HighWater, a boutique director services business, during the recent Opalesque Cayman Roundtable.

Even if most of the onshore regulations ("whether it is short-selling rules in Hong Kong, the AIFM Directive in Europe, FATCA, CFTC registration, SEC registration or new distributor rules in Switzerland") are directed at investment managers, the boards of directors to Cayman funds cannot ignore them, he continued. They must ensure the contracted service providers comply with them. In the past, Cayman-f......................

To view our full article Click here

Banner

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Commodities - Oil wreaking havoc on small-cap energy stocks sliding 36%[more]

    From Bloomberg.com: Owning almost anything in the U.S. stock market has been a losing proposition since September. Owning smaller energy companies has been a catastrophe. Hercules Offshore Inc. and Resolute Energy Corp. are among 19 oil-and-gas equities in the Russell 2000 Index that lost more than

  2. Investing - Hedge funds favor equity long/short, Strategic bond managers hedge against further high yield sell-off[more]

    Hedge funds favor equity long/short From Securitieslendingtimes.com: Equity long/short strategies will generate good returns for hedge funds in the future, according to a panel at this year’s Risk Management Association Conference on Securities Lending in Naples, Florida. Panellists Sand

  3. Legal - Ex-hedge fund analyst weeps as judge hands down 5 year sentence, Former Columbus investment manager Steven P. Moore indicted on theft charges, SEBI confirms ban for Hong Kong hedge fund, SEC announces enforcement action against compliance officer[more]

    Ex-hedge fund analyst weeps as judge hands down 5 year sentence From Hereisthecity.com: An ex-hedge fund analyst was sentenced to 5 years in prison for his role in insider-trading scheme. The New York Post reports that former hedge fund analyst Matthew Teeple was sentenced Thursday to fiv

  4. Goldman in talks to acquire IndexIQ[more]

    From Bloomberg.com: Can Goldman Sachs put ETF investors on a liquid diet? Goldman is in talks to acquire IndexIQ, Reuters has reported. Index IQ is a small exchange-traded-fund firm known mostly for products that replicate hedge fund strategies, called "liquid alternative" ETFs. While IndexIQ has 11

  5. Other Voices: CALPERS dilemma should be a warning to hedge funds wanting institutional investors[more]

    From Ian Hamilton, founder of IDS Group. A quick comment on the CALPERS’ disinvestment from the hedge fund market and the jitters it is causing. Pension Funds should not be sheep and follow CALPERS’ decision as the issues that CALPERS has with hedge fund investments are in many ways unique t