CIMA’s statement of guidance on fund governance: a baseline of adequacy
The Cayman Islands Monetary Authority’s (CIMA’s) recently published statement of guidance (SOG) on matters of fund governance takes effect on 13 January 2014 and applies to all funds regulated under the terms of the Mutual Funds Law.
The SOG follows a broad review of fund governance by CIMA and should be read as a statement of what CIMA considers to be a baseline of adequacy as opposed to a statement of aspiration.
The SOG establishes key principles of good governance that must be observed by funds that CIMA regulates. Many funds will not be phased by the requirements of the SOG for their governance models will exceed the standards that the SOG demands, although others may find the SOG challenging and should seek to improve their governance standards accordingly…
If you are registered and logged in to the site, click on the link below to read the rest of the Mourant Ozannes briefing. If not, please register or sign in with your details below.
News from Mourant Ozannes
News from The Lawyer
Briefings from Mourant Ozannes
The Royal Court of Jersey has concluded that it has power under its inherent jurisdiction to sanction a compromised settlement of litigation reached by the plaintiff on behalf of a minor.
A private trust company is a privately owned corporate trustee whose sole purpose is to act as trustee to a trust or group of ‘connected’ trusts.