The pace of regulatory developments in the offshore arena means
that change is now constant. But while a significant proportion of
the media focus has been on either new or reformed rules on the
compliance side such as the Common Reporting Standards, registers
of beneficial ownership and the Base Erosion and Profit Shifting
agenda, there are also industry-driven developments of
significance.
A fine example is the introduction of the Cayman Islands
Liability Companies Law, 2016 which was enacted in June 2016 and
which came into force on 8 July 2016. The introduction of the LLC
is a response to demand from the investment funds and financial
services industry, and Ogier worked closely with the Cayman Islands
Government and was centrally involved with the development of the
Law.
