Practical compliance for private funds and hedge funds – Cayman Islands AML/CFT/PF/ sanctions regime

Private funds and hedge funds are already required to comply with the AML/CFT/PF/Sanctions regime. Private funds and limited investor hedge funds are now required to provide details of their compliance arrangements to the regulator, CIMA, as part of registration. This will bring them into line with larger hedge funds.

Related briefings

FAQ on transitional registration of aircraft

Walkers and the Civil Aviation Authority of the Cayman Islands (CAACI) recently discussed the frequently asked questions in connection with the CAACI’s new expanded transitional aircraft registration offering.

Ireland: Reducing the risks of dismissal during probation

The recent High Court decision in O’Donovan v Over-C Technology Ltd & Anor [2020] demonstrates that terminating an employee’s employment before the employee has accrued 12 months’ continuous service can still create significant risks for an employer.

Setting aside company transactions involving Jersey, Guernsey and BVI companies

Financial pressure can change perspectives on transactions – whether through the lens of an insolvent winding up, in the context of a counterparty or related interested party exploring ways in which they might unravel a transaction, or a new board considering whether a company can extricate itself from contractual arrangements that appear to have been subject to a conflict of interest or which were for an improper purpose.

Latest Briefings

Food & Drink Update – September 2020

Guidance on the latest food and drink rules, including post-furlough planning and workforce measures manufacturers, Brexit and the workforce – how to prepare for upcoming changes, protecting innovation in the food & drink industry, and more.

Coronavirus business interruption test case – judgment in the “insurance case of the century”

Flaux LJ and Butcher J today handed down judgment in the test case brought by the FCA to explore whether hundreds of thousands of businesses can recover under their business interruption policies for losses caused by the pandemic, in the “insurance case of the century” – the only claim heard under the Financial List Test Case Scheme. Many of those businesses will, today, be celebrating a fantastic win for them.

Cayman Islands Update: Economic substance guidance notes V3 issued

On 13 July 2020, the Cayman Islands Department for International Tax Cooperation (the “DITC”) issued version 3.0 of the Guidance on Economic Substance for Geographically Mobile Activities (the “Guidance”) pursuant to the ES Law (as defined below). This replaces the previous version 2.0 of the Guidance issued on 30 April 2019.

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