The 'Cayman Islands Hedge Fund Services 2019' special report comprises nine separate articles listed below, these can be read individually or as a sequence.

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Cayman Islands committed to aligning with global best practices

Cayman Islands committed to aligning with global best practices

Tax transparency and cooperation with international regulators and governments to guard against tax evasion is something that the Cayman Islands takes seriously. It has, after all, Tax Information Exchange Agreements with all major developed countries and shares information with over 100 countries under the OECD’s Common Reporting Standard framework.

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Cayman still the vanguard of offshore financial centres

Cayman still the vanguard of offshore financial centres

The Caribbean Financial Action Task Force’s mutual evaluation of the Cayman Islands at the end of 2017 led to a revision of the jurisdiction’s anti-money laundering (AML) regulations and was the catalyst for the new Cayman AML guidance. The CFATF report recommended enhancing international co-operation, broadening asset freezing powers and offences and expanding the scope of AML regulation. 

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Cayman’s laws well equipped for maturing digital asset market

Cayman’s laws well equipped for maturing digital asset market

The cryptocurrency market is predicted to reach USD1 trillion according to Smartereum as the market capitalisation continues to grow. Currently, the estimated size of the crypto market is approximately USD417 billion, a very modest number and one that remains dwarfed by other traditional and alternative asset classes. To put things into context, global private equity alone raised more than USD453 billion in 2017. 

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Carnival looking to come early for Brazilian asset managers

Carnival looking to come early for Brazilian asset managers

Prior to the election of the new Brazilian president Jair Bolsonaro, in October 2018 after winning 55 per cent of the vote, there had long been a trend among Brazilian fund managers to allocate capital offshore to invest outside of the country. Now, as the markets begin to stabilise, investors – both locally and globally – are starting to reconsider Brazil again for investment opportunity.

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Cayman’s compliance regime leads by example

Cayman’s compliance regime leads by example

On 3 December 2018, the Cayman Islands Monetary Authority (CIMA) published amendments to December 2017’s AML Guidance notes on the Prevention and Detection of Money Laundering and Terrorist Financing. Under the AML/CFT regime, a clear distinction has been made between delegation and reliance with respect to how an investment fund manager handless its AML obligations.