Securities Investment Business Law

INTRODUCTION

The Securities Investment Business Law (the "Law") came into effect on 22 July 2003 was consolidated and revised in 2004 and was passed in order to regulate the business of securities investment in the Cayman Islands.

WHO DOES THE LAW APPLY TO?

The Law applies to any company, foreign company or partnership incorporated or registered in the Cayman Islands and carrying on securities investment business anywhere in the world or any entity which has established a place of business in the Cayman Islands through which securities investment business is carried on. A company, foreign company or partnership incorporated or registered in the Cayman Islands need not be carrying on securities investment business in the Cayman Islands in order to fall within the ambit of the Law, ie it need not have a physical presence in the Cayman Islands.