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ARTICLE · 09 APRIL 2013

Cayman Islands On Track For AIFMD

Dillon Eustace
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The Government of the Cayman Islands has issued a statement confirming its continuing implementation of measures to ensure that the CIMA will have in place the required intergovernmental agreements on time.

IrelandCorporate/Commercial Law
Derbhil O'Riordan
Derbhil O'Riordan
Donnacha O'Connor
Donnacha O'Connor
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The Government of the Cayman Islands has issued a statement confirming its continuing implementation of measures to ensure that the Cayman Islands Monetary Authority ("CIMA") will have in place the required intergovernmental agreements on time for the 22 July 2013 implementation of the Alternative Investment Fund Managers Directive (the "Directive) in Europe.

Why does AIFMD affect Cayman Funds?

The Directive aims to provide for an internal market for Alternative Investment Fund Managers ("AIFMs") within the EU. Unless a complete or partial exemption is available however, the reach of the Directive extends not only to EU funds, but also, to a lesser extent, to Non- EU funds managed by Non-EU Managers (a "Non-EU AIFM"), marketing to EU investors. Non-EU AIFMs will be required to comply with certain provisions of the Directive by 22 July 2013 where they are marketing Non- EU (including Cayman Islands) funds within the EU.

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