CIMA consults over lifting veil on fund business

(CNS Business): The Cayman Islands Monetary Authority has begun a consultation process with local industry stakeholders in the financial sector to enhance corporate governance in the jurisdiction that could see considerably more transparency in the offshore and funds industry. Despite widespread coverage in the international media suggesting Cayman has plans to ‘expose all in a new database’, CIMA’s director said this is a discussion process and not an agreed regulatory reform. Cindy Scotland said the names of Cayman Islands regulated funds are already all available on CIMA’s website and the proposed funds database would be an extension of that. Read more and comment on CNS Business