Industry Updates
EU Removes the Cayman Islands from Annex I
06 Oct 2020
In particular, the move recognises the Cayman Islands' compliance with the EU's requirement that the Cayman Islands put "appropriate measures in place relating to…collective investment vehicles". The Cayman Islands put those appropriate measures in place by passing private funds legislation earlier this year and registering over 12,300 private funds with the Cayman Islands Monetary Authority by 7 August 2020.
The EU's decision is a welcome recognition of the Cayman Islands as a jurisdiction which is fully committed to implementing international standards.
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