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CIMA Celebrates World Investor Week 2018

Archived News Releases
Date: Tue, 02 October 2018

(Grand Cayman - 2 October 2018) The Cayman Islands Monetary Authority (“CIMA or “the Authority”) is proud to once again join regulators from over 80 jurisdictions to celebrate World Investor Week (“WIW”) which takes place from 1-7 October 2018. The campaign aims to raise awareness about the importance of investor education and promoting smart investment strategies world-wide.

WIW is an initiative of the International Organization of Securities Commissions (“IOSCO”), the leading international body and global standard-setter for securities regulation. One of IOSCO’s primary objectives is the promotion and development of investor education and the organisation has designed WIW to facilitate its endeavours in this regard.

As a member of IOSCO, the Authority recognises the importance of this initiative and sees the campaign as a good opportunity to promote investor education locally within the Cayman Islands. It also continues to solidify our position as a regulator of excellence in a leading International Financial Centre. As such, CIMA encourages all stakeholders within the local financial services industry to take part in WIW and enhance the effectiveness of various important messages. The Authority wants investors to be made aware of the following:

  • Conducting research before investing in a product
  • Verifying the credibility of investment professionals
  • Getting all the information (including information about fees, risks, lock-in periods, penalties etc.)
  • Avoiding “get rich quick” and “can’t lose” schemes
  • Planning ahead
  • Understanding the power of compound interest
  • Understanding the benefit of long-term diversified investment

For ease of reference, such information will be issued to relevant stakeholders and the general public throughout the week via email and the Authority’s LinkedIn page.

The Cayman Islands is the top domicile for global hedge funds, houses over 10,000 mutual funds and 93 mutual fund administrators. The jurisdiction is also home to a significant number of the top 50 banks worldwide, all of the major accounting firms, law firms and fiduciaries. As at 31 December 2017, the financial industry of the Cayman Islands accounted for approximately 40.5% of its gross domestic product (GDP).

For more information about WIW, visit cima.ky.

-ENDS-

Note to Editor:

IOSCO is the international body that brings together the world's securities regulators and develops, implements and promotes adherence to internationally recognised standards for securities regulation.