Cayman May Approve Greater HF Disclosure

06-24-2009

As the hedge fund industry is further scrutinized, the Cayman Islands Monetary Authority could make available data such as a fund's directors, manager, auditors and administrator, Reuters reports.

Earlier this month, the offshore center, home to most of the world's hedge funds, joined the global regulatory body, International Organisation of Securities Commissions, which on Monday supported obligatory registration of hedge fund managers.

At present, the Cayman Islands, only reveals information such as a fund's license number, its regulatory classification and the date it was authorized.

The move comes as global watchdogs push for tighter regulation of the $1.3 trillion hedge fund industry and greater cooperation and disclosure from offshore centers, following the Group of 20 leaders' meeting in April.

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