22
Oct
Take Care - EMIR impacts Cayman Funds: As managers of Cayman Funds are coming to grips with the reporting requirements of AIFMDi, a second wave of European legislation, namely EMIR, approaches the Cayman Islands. EMIRii will have to be navigated by Cayman Funds trading derivatives both with European Union counterparties, and, in certain circumstances, even when trading with non-European Union counterparties.
Although the provisions of EMIR principally impact European entities which are financial counterpartiesiii ("FCs") and non-financial counterpartiesiv ("NFCs") as...