Wednesday, 17 September 2014
Last updated 36 min ago
Jan 18 2013 | 12:39pm ET
The Cayman Islands has long been a haven for hedge funds drawn by its light-touch regulatory environment and, it must be said, the ability to operate relatively opaquely on its white sand beaches. But all of that is about to change.
The Cayman Islands Monetary Authority is set to shine a light on its secretive financial industry, forcing both hedge funds and the thousands of other companies domiciled on its shores to be publicly identified and to list their directors. CIMA is also cracking down on directors, and plans to vet them to ensure their qualifications.
CIMA has sent a proposal for the public database to hedge funds domiciled on the island, part of a consultation process that will run until March, the Financial Times reports. The database would be the first of its kind in the Caymans.
While the Caymans have been criticized by the U.S. and European Union, the changes may actually be the result of demands for increased transparency on the part of investors. A large number of other offshore jurisdictions have recently updated their regulations, CIMA said, including the Bahamas, British Virgin Islands, Jersey, Ireland and the Isle of Man.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
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