THE ANNUAL CAYMAN FUNDS ROUND TABLE


A number of new regulations are coming to the Cayman Islands, many of which have been imposed on it by external forces. How could these new pieces of


legislation affect business here? Chris Gauk: Clearly the Cayman Islands remains the jurisdiction of choice for offshore funds. We have seen continuous growth now for more than 15 years. But while things are going well, there is room for improvement.


There is a delicate balancing act to be made. There are many regulations


that directly apply to us from overseas. I feel the Cayman Islands not only needs to act accordingly but also be seen to be doing the right thing. This said, however, we do need to be cautious. We don’t want to end up in a position where we are challenged for over or under applying these new requirements or where doing business in Cayman gets too expensive or regulations too burdensome. There is the danger we become front page news then for the wrong reasons.


Nick Rogers: The Cayman Islands became the success it is because of regulation rather than in spite of it. We have embraced the regulatory shift that has taken place and we are now the place to do business. Fund managers try to break away and find that unexplored bit of opportunity in their investment strategy, but when it comes to choosing what they see as a trustworthy domicile they want to stay in the centre of the herd.


Wyn Jenkins, editor, Cayman Funds


In attendance


Chris Gauk,


partner, financial services, EY


Phil Dickie, director, Harbour


Paul Harris, chairman of International


Management Services and president, Cayman Islands Directors Association


Nick Rogers,


managing partner, Ogier Cayman


Monette Windsor, head of UBS Fund Services (Cayman)


Susan Lock, partner, Campbells


Mark Fagan, principal, Highwater


John Ackerley, director,


Carne Group


CAYMAN FUNDS | 2014


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