Friday, June 26, 2009

Cayman Islands Planning to Increase Hedge Fund Transparency

As reported by Reuters, the Cayman Islands Monetary Authority ("CIMA") may introduce increased disclosure requirements for hedge funds based in the British overseas territory. The disclosure could comprise data on fund directors, managers and administrators.

This news follows on the heels of CIMA being admitted as a full member of the International Organization of Securities Commissions ("IOSCO") on June 10, 2009, thereby validating the Cayman Island's regulatory and international cooperation regime.