Cayman Islands seeking pacts with Sebi, IFSCA on info sharing

THE CAYMAN ISLANDS Monetary Authority (CIMA) on Thursday announced that it is exploring a series of proposed memoranda of understanding (MoUs) with the Securities and Exchange Board of India (Sebi) and the International Financial Services Centres Authority (IFSCA), the regulator for GIFT City.

- MAHESH NAYAK

These agreements aim to facilitate information-sharing between the regulators of both countries. The Cayman Islands currently rank as the world’s second-largest fund jurisdiction, managing approximately $8.5 trillion in assets under management (AUM), second only to the US.

“These agreements aim to enhance regulatory cooperation, information exchange, and transparency, particularly in areas such as compliance and oversight of investment funds and beneficial ownership disclosure,” said Andre Ebanks, Premier of the Cayman Islands.

He noted that CIMA is considering an agreement with GIFT City’s independent regulator to strengthen collaboration in India’s fast-growing financial hub.