ARTICLE · 31 MAY 2013

Cayman Finance Welcomes ESMA Agreement

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Cayman Finance welcomes news CIMA will sign an MOU with the European Securities and Markets Authority as part of Cayman's preparations for the EU Alternative Investment Fund Managers Directive.

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31 May 2013 · Cayman Finance Welcomes news CIMA will sign an MOU with the European Securities and Markets Authority as part of Cayman's preparations for the EU Alternative Investment Fund Managers Directive.

The Directive, which is set to be implemented in Europe on July of this year, will impose certain conditions, which limit the marketing of alternative investment funds in the EU.

"The AIFMD, if not addressed, would pose some challenges for the marketing of Cayman Islands hedge funds in Europe, and we are very happy this step will be taken by CIMA to address concerns and enable the jurisdiction to continue to thrive as a leading funds domicile", said Mr. Gonzalo Jalles, CEO of Cayman Finance.

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