Cayman Islands private funds law – change to definition of ‘private fund’

The Private Funds (Amendment) Law, 2020 came into effect on 7 July 2020 and serves to clarify the types of investment vehicles which will be required to register with the Cayman Islands Monetary Authority (CIMA) by a deadline of 7 August 2020 pursuant to the Private Funds Law.The Private Funds (Amendment) Law, 2020 came into effect on 7 July 2020 and serves to clarify the types of investment vehicles which will be required to register with the Cayman Islands Monetary Authority (CIMA) by a deadline of 7 August 2020 pursuant to the Private Funds Law.

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Cayman Islands administrative fines regime for insurance licensees

By Rob Humphries The Monetary Authority (Administrative Fines) (Amendment) Regulations, 2020 (the “Amendment Regulations”) came into force on 26 June 2020. The Amendment Regulations serve to amend Schedule 1 of the Monetary Authority (Administrative Fines) Regulations (2019 Revision) (the “Fines Regulations”) and extend the scope of the fines which may be levied by the Cayman […]

GDPR and the Cayman Data Protection Law for Insurance Managers (and clients)

The General Data Protection Regulation 2016/679, or GDPR, is a set of EU regulations aimed at the protection of personal data and privacy of natural persons (not corporations) based within the EU. The GDPR has extraterritorial effect in that it applies to the processing of personal data of persons who are situated in the EU […]

The Private Funds Law and the Cayman Islands’ Status with the EU

In February 2020 the EU included the Cayman Islands on its Annex 1 list of non-cooperative jurisdictions for tax purposes; the so-called “black list”. Whilst the Cayman Islands Government had endeavoured to address the EU’s concerns in respect of the regulation of collective investment vehicles through the passing of The Private Funds Law (the “PFL”) and The Mutual Funds (Amendment) Law on 31 January 2020, the laws were only enacted on 7 February.

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A fast-track for beautiful developments?

The Government has published its long-awaited white paper on planning reform, which seeks views on 24 proposals. In this legal insight we look at the key areas that have been targeted for reform.

Rules authorising the cultivation and industrial exploitation of varieties of hemp

There is a huge amount of interest in hemp cultivation, both for medicinal and cosmetic purposes, and for industrial use, in particular, the production of fibre, seeds and other products linked to agro-industry. As a consequence, the Government has legislated to positively discriminate in favour of the production of hemp for industrial purposes, to remove the risk of illegal practices.

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Cooley’s IP practice hit with another loss

Another IP partner has left Cooley in the wake of a nine-lawyer exodus at the end of June. IP partner Charlie Winckworth, who joined Cooley at the start of last year from Hogan Lovells, has left the firm. He leaves one week after Cooley lost fellow IP partner Nick Bolter, four associates, a paralegal, and three […]

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The economics behind the magic circle salary cuts

Allen & Overy and Clifford Chance turned heads this week by announcing salary cuts of 10 and 5.5 per cent respectively for newly-qualified (NQ) solicitors. However, a glance at the magic circle’s NQ data since 2007 shows that this is a predictable precaution and like most law firms in the City, they are expecting a […]

RPC appoints new senior partner as Boswall bows out

Oliver Bray has been confirmed as RPC’s new senior partner on a three-year term, with the commercial disputes partner set to replace the outgoing Rupert Boswall with immediate effect. Bray’s appointment was confirmed on Thursday after winning over the firm’s partnership in an election, with Boswall stepping down after completing the maximum tenure of two […]

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