As clients of this firm will be aware from our previous communications and updates, all persons registered with the Cayman Islands Monetary Authority ("CIMA") as "Excluded Persons" under the Securities Investment Business Law (2015 Revision) ("SIBL") are regarded as carrying on "securities investment business", and therefore remain within the scope of the Cayman Islands Anti-Money Laundering Regulations (the "AML Regulations") and must continue to ensure that they comply with the requirements of the AML Regulations.
CIMA has recently contacted certain persons registered as Excluded Persons under SIBL requiring them to obtain and provide an audit report (the "Report") on the entity's AML procedures and compliance with the AML Regulations.
In this article, partner Jonathan Caulton and associate Mushfique Khan provide an overview on the ever-growing Islamic finance market and the reasons why the use of Cayman Islands structures help in structuring Islamic finance products. Their contribution formed part of the July 2018 edition of UK Islamic Finance News, published by Redmoney Group.
Matthew Gilbert, Greg Knowles and Richard May provide an overview of key steps, legal issues, risks and liabilities and market practices involved in the initial public offering process in the British Virgin Islands. Their contribution formed part of the second edition of Global Legal Insights: Initial Public Offerings 2018, published by Global Legal Group, which covers the initial public offerings process in 28 jurisdictions.
This article first appeared in the Global Legal Insights Initial Public Offerings 2018 published by Global Legal Group in May 2018.
As 'open market' US CLOs are now exempt from US risk retention rules, Maples Fiduciary has undertaken a third survey of its US CLO manager clients to assess the impact of the ruling and how managers think the market will evolve as a result.
In this guide, Michael Gagie and Matthew Gilbert provide an overview of lending and secured finance law in the British Virgin Islands. Their contribution formed part of the 5th edition of the Lending & Secured Finance guide, published in April 2018 and covering law in 54 jurisdictions.
This article first appeared in The International Comparative Legal Guide: Lending & Secured Finance 2018 published by Global Legal Group in April 2018.