Thu, Mar 5, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Other Voices: Cayman regulator agrees to database providing director transparency

Tuesday, December 31, 2013

By: Kevin Ryan, HedgeDirector Ltd

The Cayman Islands financial regulator CIMA has revealed proposals to create a public database showing details of offshore directors’ workloads. This move follows a long campaign by investor pressure groups who have been lobbying CIMA to help them in their due diligence process.

The database is part of a comprehensive review of Cayman governance that will be welcomed by the hedge fund investment community. Other governance proposals include greater regulation of Cayman fund directors, clarification of directors’ responsibilities and a requirement for a minimum number of board meetings.

Investors have been particularly frustrated by a small number of directors who have repeatedly refused to disclose their portfolios of roles. In some cases, individuals are reputed to work simultaneously on hundreds of board positions. Stories of these so-called "jumbo directors" have made their way into the mainstream press, with Cayman directors becoming the subject of a Financial Times extended investigation in 2012, and CIMA is obviously keen to restore the island’s reputation.

CIMA stopped short of introducing a cap on the number of roles undertaken by any one director, with the explanation that a transparent public database will allow market forces to dictate what investors perceive as acceptable portfolios of roles.

Investors had been concerned that the proposed database would have limited use, being searchable only by fund name, b......................

To view our full article Click here

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. Outlook - Philippe Jordan predicts 'alternative beta' to displace hedge funds, Stan Druckenmiller says Europe, Japan stocks will outpace U.S.[more]

    Philippe Jordan predicts 'alternative beta' to displace hedge funds From Investordaily.com.au: The disappointing performance of hedge funds in recent years is a result of "too much money chasing too little alpha", argues Capital Fund Management. Speaking to InvestorDaily, CFM partner Phi

  2. Investing - Seth Klarman of Baupost outlines his investment process as major stock market indices are stretched, Myriad hedge fund sold bulk of its Alibaba stake last year[more]

    Seth Klarman of Baupost outlines his investment process as major stock market indices are stretched From Valuewalk.com: As hedge fund manager Seth Klarman, leader of the $28 billion Baupost Group, reviews 2014 performance and considers investors gained near 7 percent on the year, he cons

  3. Investing - As rig count falls, hedge funds pile into long crude futures, Parus tactically shifts long/short exposure ratios, Mario Draghi outflanking Kuroda as bearish euro bets surge, Prime Capital’s 500.com bet derailed after 41% drop[more]

    As rig count falls, hedge funds pile into long crude futures From 247wallst.com: In the week ended February 27, the total number of rigs drilling for oil in the United States came in at 986, compared with 1,019 in the prior week and 1,430 a year ago. Including 281 other rigs mostly drill

  4. Opalesque Exclusive: dbSelect’s top ten FX strategies average almost 10% in January[more]

    Benedicte Gravrand, Opalesque Geneva: In one of Deutsche Asset & Wealth Management (AWM)’s hedge fund platforms, called dbSelect, a number of FX Strategies did very well in January. dbSelect is a managed investment platform for unf

  5. Opalesque Exclusive: SEC’s Mark J. Flannery warns hedge funds against valuation misconduct[more]

    Komfie Manalo, Opalesque Asia: Securities and Exchange Commission chief economist and director of Division of Economic and Risk Analysis (DERA) Mark J. Flannery has warned of the risks posed by market misconduct, particularly in the true valuation of assets by hedge fund managers. In his