Cayman to access India

| 18/06/2009

(The Economic Times): A string of recent changes could slowly pave the way for direct entry of hedge funds into the Indian securities market. Cayman, the Caribbean offshore financial centre and a favourite tax haven of money managers, has been admitted as a member of the International Organization of Securities Commissions (IOSCO), the global standard setter for securities markets. The move could encourage the Securities and Exchange Board of India (SEBI), the local capital market regulator, to give hedge funds – most of which are registered with Cayman – direct access to the Indian market.

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  1. Tim Ridley says:

    This is an excellent concrete example of why it is so important that the Cayman Islands keep plugging away at the various international intitiatives and engage proactively with the international standard setters. Persistence and patience does payoff, even if the process is painful and protracted.