Chris Humphries

Economic Substance Requirements for Fund Managers

This Guidance Note summarises the main elements of the Economic Substance Act as it relates to investment funds, fund managers and other entities registered as registered persons under the Securities Investment Business Act (Revised) (the “SIBA”).

AML Officers in the Cayman Islands

The Cayman AML Regime requires that Cayman Islands Financial Service Providers (“FSPs”) appoint AML Officers and each of those persons to comply with specific roles and responsibilities. This article summarises the four (4) AML roles required and their obligations.

Anti-Money Laundering Obligations for Cayman Islands Funds

The principal legislation in the Cayman Islands which seeks to combat money laundering and the financing of terrorism is The Proceeds of Crime Act (2020 Revision) (the “PCA”) and The Anti-Money Laundering Regulations (as amended) (the “Regulations”).

Empowering Web3 Expansion through Innovative Legislation

innovative legislation is pushing the boundaries of possibilities for Web3, DAO and De-Fi (more generally termed as, "virtual assets"). Managing Director, Chris Humphries and Partner, Jonathan McLean take a look at how the Cayman Islands has emerged as a leader in this digital revolution.

Registration of a Foreign Company in the Cayman Islands

The Companies Law (as Revised) (the “Companies Law”) provides for the registration of foreign companies in the Cayman Islands.

Fund Registration in the Cayman Islands

The Cayman Islands has become the leading offshore jurisdiction for the establishment of mutual funds and private funds. This article highlights the key things to know about registering a fund in the Cayman Islands.

Cayman Structures for Crypto, Web3 and Blockchain Entities

This article examines the common structures used for Crypto, Blockchain and Web3 entities seen in the current marketplace in the Cayman Islands.

Using Side Letters in Private Equity

Side letters allow for the private equity fund to provide key investors with special contractual rights or privileges.

Powers of the Founder of Cayman Foundation Companies

Founders of a Foundation Company also have distinct powers unique to this kind of structure. In this article, we will discuss the Foundation Companies in the Cayman Islands and the specific rights and powers that the Founders have under the Act.

The Private Funds (Amendment) Law 2020

On 7 July 2020, the Government of the Cayman Islands passed the Private Funds (Amendment) Law, 2020.

New Regulatory Regime for Exempted Funds and Private Funds

On 8 January 2020, the Government of the Cayman Islands published a draft Private Funds Bill, 2020 (the “Private Funds Bill”) and simultaneously a draft Mutual Funds (Amendment) Bill, 2020 (the “Mutual Funds Bill” and together with the Private Funds Bill the "Bills").

The International Tax Co-operation (Economic Substance) Law, 2018

On 1 January 2019, the Cayman Islands introduced The International Tax Co-operation (Economic Substance) Law, 2018 (the “Law”). The Law has been issued in response to the Cayman Islands’ commitment to the global initiative to combat base erosion and profit shifting.

Data Protection Law, 2017 In Effect

The Cayman Islands Data Protection Law, 2017 (the "DPL"), came into effect on 30 September 2019.