Due in large part to the financial crisis that has plagued the global banking system, letters of credit (LOCs) continue to be more expensive and harder to find. For those that are wondering “When are LOC fees going to go down?”
This article considers recent trends in the hedge fund industry, as seen from the Cayman Islands legal perspective, following the upheaval of the recent global economic downturn.
Over recent years, the Cayman Islands has proven itself an increasingly popular jurisdiction of choice for the incorporation of companies owned or operated by parties in Asia, with the following being some of the key reasons for such popularity.
Reflecting on the recent global financial crisis one can’t help but wonder what lessons have been learned from the experiences of many of the world’s hedge fund participants.
The US$50b fraud by Bernard Madoff’s investment advisory and broker-dealer firms had an equally outsized list of red flags. Several ways in which Madoff carried out his operations were not only highly unusual but also gave him more discretion over his operations and subjected his activities to less scrutiny than a typical investment adviser or broker-dealer. Notably
From our vantage point in early 2010, we look back on the roller
coaster ride of the past two years and see the tremendous change that
our industry has endured. There were the heady days in late 2007 when
assets under management (AUM) peaked ...