Cayman News Service Reports:
(CNS): As a clearer time frame for new international regulations for hedge funds finally emerges, the implications for the industry in Cayman are positive, according to industry experts. During a panel discussion at this week’s GAIM Ops 2011 conference, members discussed the implications of the new regulatory landscape for the hedge fund industry and looked at two specific pieces of proposed legislation: America’s Dodd-Frank Act and the European Union’s Alternative Investment Fund Managers Directive (the AIFMD).
Michael G Tannenbaum, co-founder & partner with US lawyers Tannenbaum Helpern Syracuse & Hirschtritt, moderated the panel discussion at the specialist conference currently underway at The Ritz-Carlton, Grand Cayman and said that America’s Securities and Exchange Commission (SEC – the entity tasked with creating the new Dodd-Frank rules) would have the legislation finalised by 21 July of this year, with a most likely implementation date of the end of the first quarter of 2012.
The AIFMD, on the other hand.. (Click for the Full Article)