The Cayman Islands Monetary Authority (CIMA) has inked a memorandum of understanding (MOU) with the Gibraltar Financial Services Commission (GFSC) to facilitate regulatory cooperation for alternative investment fund managers.
The MOU will support the consultation, cooperation as well as information sharing between the two parties regarding firms under the Alternative Investment Fund Managers Directive (AIFMD).
CIMA managing director Cindy 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."
GFSC CEO Samantha Barrass added: "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."