After signing Model 1 inter-governmental agreements (IGA) with both the US and the UK in November 2013, in July 2014 the Cayman Islands government passed the necessary regulations to provide legal obligations with respect to US and UK FATCA as
By Giorgio Subiotto (pictured) & Shameer Jasani, Ogier – We have witnessed a clear evolution in how the composition of boards of directors on Cayman investment funds has been structured. The concept of using independent directors is not new. Many US
By Nicholas Butcher, Maples and Calder – Cayman Islands exempted limited partnerships (“ELPs”) are currently riding the crest of a wave. Consistently a popular form of investment vehicle for hedge and especially private equity funds, 2013 saw a record 2,368 ELPs
The trustee for MF Global will begin making final distributions to satisfy its obligation of full restitution for USD1.212bn in losses sustained by customers when the company failed in 2011. The consent order, entered on 8 November 2013 by Judge
On 6 December 2013, after a period of consultation with industry practitioners, the Cayman Islands Monetary Authority (CIMA) – the Islands’ financial regulator – released its Statement of Guidance for Regulated Mutual Funds (‘SoG-MF’). In essence, the SoG-MF codifies and
The European Energy Exchange (EEX), in cooperation with Cleartrade Exchange (CLTX), is to launch an extension to its Trade Registration services for fertiliser contracts on 6 January 2015. The product offering includes six derivatives contracts for fertilisers based on Urea,
Commodity Pool Operator (CPO) and Commodity Trading Advisor (CTA) AlphaMetrix is to pay USD5.6 million in restitution and penalties to settle US Commodity Futures Trading Commission (CFTC) charges. A court order requires AlphaMetrix to pay restitution of USD2.8 million and
The US Commodity Futures Trading Commission (Commission) has approved an amendment to and consolidation of LCH.Clearnet Ltd’s (LCH) orders of registration as a derivatives clearing organisation (DCO). The amendment permits LCH to provide clearing services for “swaps,” as defined in
Ounavarra Capital has appointed Laurence B. Siegel as a senior adviser. Siegel (pictured) will continue as research director of the Research Foundation of CFA Institute. He was most recently and since 1994, the director of research in the investment division
On 16 December, Euronext’s commodities franchise achieved a record daily volume in milling wheat futures for the second time this month, with 92,531 contracts traded. Milling wheat futures volume represented over 4.6 million tons on 16 December 2014. The previous record
