Cayman Funds are Optimistic in the Face of Change
As part of her role as Chair of the Education Committee of the Alternative Investment Management Association—AIMA Cayman, Managing Director, Allison Nolan, recently joined Cayman Funds magazine in EY’s hosted panel discussion on the state of play of the Cayman Islands alternative investment industry following a year of new regulatory changes.
Whilst the funds sector is facing unprecedented times amongst the global-wide coronavirus pandemic, the Cayman Islands remains adaptable and resilient to the continuous pace of change over the years. In 2019 and the early part of 2020, the industry absorbed a number of key changes, including the Private Funds Law, economic substance guidelines from the EU, further changes to anti-money laundering rules, the new Data Protection Law and the Securities Investment Business Licensing Law.
Although the roundtable was written before the scale and implications of COVID-19 became clear, and as such does not explicitly address the potential challenges the virus poses, the issues discussed were pertinent to the industry in the first half of 2020—and remain pertinent now.
With sentiments around the roundtable echoing those of Allison’s in that “Cayman’s ahead of the curve compared to other jurisdictions,” and will remain reliable and agile under the new environment due to its stable talent, structure and established relationships.
Read more in the full article below.