Sat, Apr 29, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

CIMA releases guidance on fund governanace

Friday, January 17, 2014

Bailey McCann, Opalesque New York:

The Cayman Islands Monetary Authority (CIMA) has finalized new guidance on fund governance. The new rules apply to all funds regulated under the terms of Mutual Funds Law. The guidance has been developed following a broad review of fund governance by CIMA. According to a report from global offshore law firm Mourant Ozannes, which worked with CIMA throughout the process, governance will have to take on a more regulated feel going forward.

Opalesque previously reported on a move by CIMA to provide a director transparency database spurred on by coverage of robo-boards offshore. The Weavering case also had a direct impact on the new language. This new guidance document aims to ensure that funds provide investors with accurate and sufficient disclosure of matters such as the fund's investment strategy, relevant conflicts of interests and descriptions of the equity interests being offered to investors.

Other requirements in the guidance require more consistent meetings of the board, better internal and external communication and more active risk management. The regulator noted that it is aiming to provide a baseline for offshore fund governance, d......................

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. Opalesque Exclusive: Ex-Man manager combines sustainable investing with AI/ML[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Dr. Richard Bateson, quant fund manager and physicist, has recently

  2. Other Voices: "Winner-take-all" dynamics and hedge fund investing[more]

    A growing stream of thinking in microeconomics is the concept of "winner-take-all" dynamics. The idea seems simple. A combination of networking economics and classic economies of scale creates situations where there are just a few dominant firms or economic agents who are able to capture significant

  3. Investing - How Chipotle's comeback attracted big data robots and value investors alike[more]

    From Forbes.com: When William Ackman's ailing hedge fund Pershing Square Capital Management bet $1 billion on shares in Chipotle Mexican Grill beginning in July 2016, the stakes couldn't have been higher. Pershing Square was reeling from what would eventually be a near $4 billion loss in drugmaker V

  4. Gondor Capital sees challenges ahead for financial markets as two hedge funds post strong gains in Q1[more]

    Komfie Manalo, Opalesque Asia: Vincent Au, portfolio manager of New York-based hedge fund firm Gondor Capital Management believes that the remaining of the year would be challenging for the financial markets even as his two hedge funds maintain

  5. Service Providers - Colemore launches fee tracking service for limited partners[more]

    Following Colmore's successful launch in January 2017, the firm has announced the launch of FAIR.. FAIR is designed to help private equity investors independently validate fees and incentives charged by underlying managers, saving time and providing an extra level of comfort. There is a glob