CIMA Signs MOU with Gibraltar Counterpart

(Grand Cayman - Thursday, 30 June 2016) The Cayman Islands Monetary Authority (CIMA) has signed a Memorandum of Understanding (MOU) with the Gibraltar Financial Services Commission (GFSC).

The MOU provides for the consultation, cooperation and exchange of information regarding firms under the Alternative Investment Fund Managers Directive (AIFMD).

Mrs. Cindy Scotland, Managing Director of CIMA, signed the MOU on behalf of the Authority. Mrs. Scotland said: “Europe is an important market for Cayman hedge funds. The fact that our continuing efforts to secure MOUs with our European counterparts are bearing fruit is a source of satisfaction. We are pleased to add the GFSC to the list of European counterparts with whom we have such agreements.”

Ms. Samantha Barrass, CEO of the GFSC, said: “The GFSC enjoys a close working relationship with CIMA, and the signing of this MOU represents a commitment to further communication and regulatory cooperation. This AIFMD MOU facilitates information exchange and experience sharing, important processes that will enhance our capabilities as supervisors of AIFMD entities”.