AIFMD update — Cayman Islands
The Cayman Islands Monetary Authority has announced that it has entered into co-operation arrangements with the securities regulators of 25 European countries. This is welcome news as it means Cayman Islands funds can continue to be marketed to professional investors in these countries under national private placement regimes after 22 July 2013, the date the European Alternative Investment Fund Managers Directive (AIFMD) is transposed into national laws of EU member states.
In addition to complying with the requirements of the applicable private placement regime, investment managers wishing to market Cayman Islands funds into these European countries after 22 July 2013 will need to comply with a number of requirements…
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