Cayman corporate governance reforms face legal challenge
Efforts to enhance the corporate governance framework for hedge funds in the Cayman Islands have run into opposition from local fund directors, who take issue with the regulator’s plans to create a public directors’ database
Fund directors in the Cayman Islands are pushing back against an initiative to improve corporate governance standards in the jurisdiction, even though the proposals have garnered widespread support from investors.
An affiliate of DMS Management, the largest provider of fiduciary services to hedge funds in the Cayman Islands, is seeking a judicial review of the Cayman Islands Monetary Authority’s (Cima) proposed corporate governance reforms.
The company, which provides directors for scores of
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