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Article: Regulation Of Investment Business.(Cayman Islands)
- Article from:
- Mondaq Business Briefing
- Article date:
- October 9, 2003
CopyrightCOPYRIGHT 2003 Mondaq Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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In 2002 the Cayman Islands Government proposed legislation to regulate investment business carried out in or from the Cayman Islands. The Securities Investment Business Law (2003 Revision) (the "Law") became fully effective on 29th July 2003. Any person in the Cayman Islands conducting securities investment business as defined in the Law must now be licensed by the Cayman Islands Monetary Authority ("CIMA"), unless that person is exempt. Those persons currently conducting investment business covered by the legislation have a period of 6 months to apply to CIMA for a license, or file for an exemption from licensing.
The Law applies to any entity that is ...