JTC buys Cayman fund administration business from GAM
Fund service provider JTC Group has added to its fast-growing acquisition list with the purchase of GAM’s fund administration business in the Cayman Islands.
Cayman Islands
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Cayman court’s first valuation verdict on minority side
East Capital, a Swedish fund company specialising in emerging and frontier markets, said it won a landmark case in the Cayman Islands defending the rights of minority shareholders.
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CIMA petitions to wind up Belvedere-owned Brighton SPC
A petition has been issued by the Cayman Islands’ financial watchdog to wind up one of Belvedere Management Group’s troubled investment vehicles, Brighton SPC, after it found evidence to suggest its offering was “false since inception”.
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UK appears to ease pressure on Cayman over ownership register
The UK Government appears to have relaxed its demands on the Cayman Islands to create a public register that reveals the owners of companies, despite Prime Minister David Cameron calling on overseas jurisdictions to increase transparency.
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Plain sailing: Intermediary profile with Blacktower
Now at the helm of Blacktower, John Westwood is steering the wealth management business into new international markets, sailing steadily on-course in a rapidly changing market.
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Auditor questions existence of Belvedere firm’s assets
Belvedere-owned offshore fund house, Four Elements PCC, claimed to have assets under management which might not exist, according to Mauritius-based auditor BDO.
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Belvedere-owned Kijani funds go into liquidation
Cayman Islands-based, Kijani Resources, which is owned by troubled offshore fund house Belvedere Management Group, has gone into liquidation after its parent business was taken over by the island’s monetary authority earlier this month.
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Deutsche Bank appoints Cayman COO
Deutsche Bank has appointed a new chief operating officer for its Cayman Islands office.
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Cayman Islands authority takes over troubled Belvedere fund
Suspended fund, Brighton SPC, has been taken over by the Cayman Islands Monetary Authority after a “forensic examination” was conducted on the investment vehicle.
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SFC recovers $190m after collapse of hedge fund
The Hong Kong Securities and Futures Commission has helped hundreds of investors recover their money after a failed hedge fund allegedly defrauded them out of more than $190m (£120m, €170m).
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Directors of Belvedere Brighton SPC resign
Cayman Islands-domiciled fund Brighton SPC has been suspended and its board of directors have resigned as it fights allegations that came to light last week which could impact investors access to their assets.
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Cayman Islands launches FATCA portal
The Cayman Islands Tax Information Authority has launched an online portal to allow local financial institutions to report information required under the US Foreign Account Tax Compliance Act (FATCA).