CIMA Rules and Guidance for Corporate Governance for Regulated Entities

The Cayman Islands Monetary Authority’s (CIMA’s) Rule on Corporate Governance for Regulated Entities (Rule) and Statement of Guidance on Internal Controls for Regulated Entities (Guidance) comes into effect on 14 October 2023. The Rule and Guidance will replace the existing corporate governance regulatory measures. All CIMA regulated entities will be required to take action to ensure compliance.

Private Equity as an Asset Class

As an administrator, we use our experience to help managers and investors alike in understanding the complexities of the private equity space. We understand that not all investors are familiar with this asset class, making it a challenging proposition to investors who are otherwise more accustomed to the liquidity, information flow and timing associated with the public market. We that find our knowledge around effective performance metrics is helpful to new managers and investors navigating the area and have produced a short explainer for those new to the asset class.

Marbury obtains ISAE 3402 Type I Accreditation

Marbury Corporate Advisory Services Limited has successfully obtained the International Standard on Assurance Engagements (ISAE) 3402 Type I Report in respect of the following aspects of its business:

  • information security
  • data management and storage
  • business continuity
  • compliance
  • fund administration
  • cash management and remittance services

ISAE 3402 is a global assurance standard developed by the International Auditing and Assurance Standards Board (IAASB) and involves establishing and independently auditing internal controls and processes within a service organisation. To learn more about ISAE 3402, click here.

Marbury continues to work with the highly-respected audit and accountancy firm, Baker Tilly, to obtain the ISAE 3402 Type II accreditation.

BVI Approved Manager MLRO Requirements

In order to ensure compliance with the BVI’s anti-money laundering regime, Approved Managers are required to appoint a money laundering reporting officer (MLRO) and implement appropriate policies and procedures for adoption on an ongoing basis.