CAYMAN ISLANDS: CIMA signs AIFMD MoU with BaFin

Monday November 25 2013

The Cayman Islands Monetary Authority (CIMA) has signed a Memorandum of Understanding (MoU) with Bundesanstalt für Finanzdienstleistungsaufsicht of Germany (BaFin) in respect of the Alternative Investment Fund Managers Directive (AIFMD).

The MoU provides for mutual assistance regarding supervising managers of alternative investment funds who operate on a cross-border basis in both jurisdictions. These MOUs will enable the continued marketing of Cayman Islands hedge funds throughout the European Union under the AIFMD. It requires that certain conditions be met before non-EU countries can market alternative investment funds in the EU.

The CIMA has now signed 27 such agreements with European counterparties. Other ESMA members which are still to sign agreements with the Cayman Islands are Italy, Slovenia and Spain.

Click on the above link for more details.