Caymen Net News – The Cayman Islands Financial Services Association (CIFSA) has addressed efforts to boost disclosure of information about hedge funds, and has cautioned that the move must be widely agreed and equally applied.
Meanwhile, regulators at the Cayman Islands Monetary Authority (CIMA) said it hoped the changes, contemplated for later this year, if approved, would aid industry transparency, improving global views of Cayman’s financial services industry as it struggles for approval from the Organisation for Economic Cooperation and Development (OECD).
“The most crucial aspect of this is to ensure that there is a comprehensive approach so that every regulated hedge fund is covered,” said CIFSA chairman Anthony Travers. “This should be achieved first. There is a real risk that disclosing partial information may colour the debate going forward and may not present Cayman in its best light.