1. Split Boards Favoured As Fund Governance Intensifies

    Split Boards Favoured As Fund Governance Intensifies

    "The register noted in Section 23 of the Directors Registration and Licensing Law, 2014 is basically a housekeeping provision since all registered, professional and corporate directors are directly regulated by the Cayman Islands Monetary Authority (CIMA) ...

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    1. The rationale for the Law is founded in the Cayman Government's initiative to continually enhance standards of corporate governance and increase transparency in the sector.
    2. That is where the tension potentially lies.
    3. That will allow the industry to self-regulate because if and when that becomes available the big institutional investors performing their due diligence will make sure they know how many funds a director holds and if they are not comfortable with that number they won't invest in the fund.
    4. It has been a subtle but gradual change over the last few years to get to that point.
    5. The Managed Funds Association, which represents the global hedge fund industry, has urged the Commission to address this issue swiftly
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