Cayman Islands continue towards AIFMD readiness
The Cayman Islands Government (CIG) confirmed on 25 March its continuing implementation of measures that will ensure that the Cayman Islands Monetary Authority (CIMA) will be ready for the July 2013 implementation of Europe’s Alternative Investment Fund Managers Directive (AIFMD).
The AIFMD seeks to create a harmonised regulatory regime which addresses the management and distribution of alternative investment funds within the European Union (EU), whether or not the funds or the managers in question are themselves established within the EU. As part of the new regime, AIFMD requires that non-EU member states (third countries) satisfy certain key requirements as a precursor to funds which are domiciled in, or which are managed by investment managers domiciled in, those third countries being marketed to investors in the EU…
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What is the role of the Royal Court of Jersey in trustee applications for directions regarding disclosure of trust information?
A recent application has raised the issue of the function of the court, namely whether the court was exercising its own discretion in supervising, and intervening, in the administration of a trust.
Royal Court clarifies limits of customary law exception in respect of time-barred breach-of-trust claims brought by incoming trustee
Where a newly incorporated PTC recently appointed as successor trustee seeks to bring claims for breach of trust against predecessors, it will not be able to benefit from empêchement d’agir.