BNP Paribas to exit Cayman Islands by selling last two branches
French banking giant BNP Paribas is set to pull out of the Cayman Islands, according to local trade group Attac.
Cayman Islands
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US must sign beneficial ownership deal first, says Caymans
The Cayman Islands will not adopt a mechanism for the exchange of beneficial ownership information that is not agreed by the US, Cayman Islands’ premier Alden McLaughlin said.
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Cayman Islands to repeal ‘secrecy law’
The Cayman Islands will repeal its Confidential Relationships (Preservation) Law, commonly known as the ‘secrecy law’, by September 2016 as it looks to step up its fight against corruption and tax evasion.
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Cayman Is. mimic Delaware’s limited liability company
The Cayman Islands is to introduce a new type of business vehicle in the form of a limited liability company (LLC), inspired by similar legislation in the US state of Delaware.
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OMGI launches UK long/short Ucits fund
Old Mutual Global Investors (OMGI) is to launch the Old Mutual UK Specialist Equity Fund on 28 April 2016. Subject to regulatory approval, the Ireland-domiciled fund will be registered for sale in a range of European countries and Singapore.
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What do the ‘Panama Papers’ mean for offshore tax havens?
In the wake of the biggest financial data leak in history, which uncovered the controversial tax arrangements of the rich and powerful, our industry experts give their views on what the Panama Papers means for their offshore jurisdictions.
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Cayman firms plead guilty to helping US clients avoid tax
Two Cayman Island investment and trust companies pleaded guilty in a New York federal court to helping American clients evade tax. The first conviction of its kind outside Switzerland.
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Knighthead launches first fixed index annuity
Cayman Islands-based insurer Knighthead Annuity & Life Assurance Company has launched its first fixed index annuity (FIA) for global clients.
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AIFMD passport inclusion decision expected by June – CIMA
The Cayman Islands Monetary Authority (CIMA) said it is confident the European Securities and Markets Authority (ESMA) would complete its assessment of a second wave of nations for inclusion into the AIFMD passport system by June 30.
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Cayman copies US tax haven’s limited liability law
Cayman Islands has introduced limited liability company (LLC) legislation that combines the key features of a company and a partnership, intended to increase the structuring options for US investment funds.
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JTC completes GAM Cayman fund business acquisition
Fund service provider JTC Group has completed its acquisition of GAM’s Cayman Island-based fund administration business.
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Belvedere’s Brighton SPC wound up after CIMA takeover
Troubled Belvedere-owned Brighton SPC has been put into liquidation after the Cayman Islands Monetary Authority took control of the unit in June.