Cayman hopes to be in EU’s good graces soon

Marine Cole has a look at Cayman Island’s revised and expanded Private Funds Law 2020, which, officials in the territory hope, will get it de-blacklisted by the EU’s finance ministers after review of the new version in October.

So far, there haven’t been noticeable fund migrations out of the Caymans as a result of the blacklisting, but that could change should the October review prove unfruitful for the jurisdiction. The reason for the EU blacklisting was largely technical, it seems, and came to the surprise of some who felt that the law, created in consultation with the EU, was already what was asked for.

Email prepared by Graham Bippart