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Jan 14, 2025 | 
mondaq.com | Sarah E. M. Howie |Wayne Flanagan
C Conyers More Conyers is a leading international law firm with a broad client base including FTSE 100 and Fortune 500 companies, international finance houses and asset managers. The firm advises on Bermuda, British Virgin Islands and Cayman Islands laws, from offices in those jurisdictions and in the key financial centres of Hong Kong, London and Singapore. We also provide a wide range of corporate, trust, compliance, governance and accounting and management services.
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Jan 13, 2025 | 
jdsupra.com | Sarah E. M. Howie |Wayne Flanagan |Róisín Liddy-Murphy
The Cayman Islands Monetary Authority (“CIMA”) has issued a new Rule and Statement of Guidance on the obligations for the provision of virtual asset services – Virtual Asset Custodians and Trading Platforms (the “Rule”).
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Dec 9, 2024 | 
jdsupra.com | Sarah E. M. Howie |Wayne Flanagan |Róisín Liddy-Murphy
Following consultations earlier this year, the Virtual Asset (Service Providers) (Amendment) Bill, 2024 (the Bill) has been gazetted and represents a major milestone in enhancing the Cayman Islands’ regulatory landscape for virtual assets service providers (VASPs).
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Dec 6, 2024 | 
jdsupra.com | Daniella Carrazana |Sarah E. M. Howie |Wayne Flanagan
As we gear up for the final quarter of 2024, this is an excellent time to review Cayman based entities with a financial year end of 31 December 2024 and consider the position of these entities with respect to the Cayman Economic Substance regime.
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Dec 4, 2024 | 
jdsupra.com | Sarah E. M. Howie |Wayne Flanagan |Róisín Liddy-Murphy
The virtual asset “Travel Rule”, formally known as the “Financial Action Task Force (FATF) Recommendation 16”, requires Virtual Asset Service Providers (VASPs) to share and hold specific customer information with recipient institutions when performing transactions involving virtual assets. The Travel Rule is similar to the requirements imposed on traditional financial institutions in many jurisdictions when performing wire transfers in fiat currency.
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Dec 3, 2024 | 
mondaq.com | Theo Lefkos |Sarah E. M. Howie |Wayne Flanagan
本年度即将结束，本所提醒所有在开曼群岛金融管理局（CIMA）注册的开曼群岛投资基金，务請注意 CIMA 的《受規管实体企业管治规则》和《受規管实体内部管控规则及指导声明》（以下简称"规则"）。根据规则，受規管实体每年应至少召开一次"管理机构"会议。 现在，所有 CIMA 注册基金应已审议过其企业管治措施、将其审阅记录在案，并实施适当的企业管治措施以遵守规则要求。 以上过程通常包括进行差距分析、完成任何必要的补救措施，以及正式采用所有相关政策和程序以构建基金的整体企业管治框架。CIMA 已表明期望受規管实体开展有关过程，以及期望管理机构妥善记录并正式通过有关政策和程序。 如阁下尚未采取以上步骤，本所敦促阁下立即行事。 除了要求正式审议并通过基金的企业管治框架外，规则还要求所有基金每年至少举行一次董事会/普通合伙人会议。本年度即将结束，若阁下的基金尚未召开有关会议，现请尽快安排。阁下应知悉，及时完成合规要求非常重要。 就此而言，CIMA 的互惠基金及私募基金的基金周年申报（FAR）表格要求基金说明年内举行董事会/普通合伙人会议的次数。未能如此行事如同向 CIMA...
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Nov 29, 2024 | 
mondaq.com | Sarah E. M. Howie |Wayne Flanagan |Daniella Carrazana
As we gear up for the final quarter of 2024, this is an
excellent time to review Cayman based entities with a financial
year end of 31 December 2024 and consider the position of these
entities with respect to the Cayman Economic Substance regime.
-
Nov 29, 2024 | 
mondaq.com | Sarah E. M. Howie |Wayne Flanagan
The virtual asset "Travel Rule", formally known as the
"Financial Action Task Force (FATF) Recommendation 16",
requires Virtual Asset Service Providers (VASPs) to share and hold
specific customer information with recipient institutions when
performing transactions involving virtual assets.
The Travel Rule is similar to the requirements imposed on
traditional financial institutions in many jurisdictions when
performing wire transfers in fiat currency.
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Nov 27, 2024 | 
jdsupra.com | Sarah E. M. Howie |Wayne Flanagan |Theo Lefkos
Corporate Governance ArrangementsBy now, all CIMA registered funds should have considered their corporate governance measures, documented their review and implemented appropriate corporate governance measures to adhere to the requirements of the Rules. This exercise typically involves conducting a gap analysis, completing any necessary remediation efforts and formally adopting all relevant policies and procedures that form the funds overall corporate governance framework.
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Nov 20, 2024 | 
jdsupra.com | Wayne Flanagan |Róisín Liddy-Murphy
As the war continues to rage on the Eastern front between Russia and Ukraine, the financial sanctions resulting from the initial invasions and ongoing conflict seem likely to continue to play a significant part in the global financial markets. However, financial sanctions related to Russia are not the only ones in force. As a British overseas territory, the Cayman Islands implements the international sanctions obligations of the United Kingdom (UK).
