MG Independent Directors

 

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Cayman Islands Independent Directors & Corporate Services

Utilising independent directors is the foundation of good corporate governance for hedge funds.

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MG Independent Directors | January 2016

the very best investor protection”

The directors at MG helps their clients by providing experienced and qualified independent directors to a diverse number of hedge funds and other types of investment companies. Our directors add value in all matters they are involved with by using their experience and insight gained over the last 13 plus years offshore.

Corporate Governance

MG meets our client needs with real corporate governance, we give each appointment the required time and approach as required to discharge our duties.

The experience of our directors is unrivaled and they have been involved with the full lifespan of hundreds of investment funds, investment companies, general partners and other joint venture companies. Read More

Services to Investment Managers

MG has extensive experience with the application of the Cayman Islands Securities Investment Business Law which is often applicable to Cayman Islands based managers of investment funds.

We can offer a full range of services to managers so that they can establish a substantive presence in the Cayman Islands, please contact us for further information. Read More

Value-added Services

MG can provide the substantive office presence from our secure modern Class A office space and we always welcome on-site meetings.

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UPDATE: FATCA Cayman Islands Made Simple (December 2015)

The most common categories for hedged funds can be found on our guide HERE.

Why does a Fund need independent directors?

  • Preferred by investors and international regulators.
  • Provides a greater level of transparency to all stakeholders.
  • Independent oversight separate from the manager.
  • Offers a level of protection to the investors and the fund.
  • Provides guidance to the manager where required.
  • Reduces liability for the manager and removes conflicts.
  • The Cayman Islands Weavering case made clear that Cayman Islands courts do not look kindly on non-professional directors or where managers may have conflicts of interest.

The role of the non-executive independent directors is recognised as cornerstone for today’s corporate governance. The presence of an independent board of directors overseeing the offshore fund operations is now widely considered as a means of protecting the interests of investors. The majority of investment funds now have independent board members.

In June of 2013 CIMA have entered agreed with the European Union to enter into a number of MOU’s paving the way for the marketing of Cayman Islands hedge funds in the EU. Click here for more.

Our Victor Murray (January 2013) participated as a panelist on the Regulatory Compliance Association (RCA) telecast discussing the role of independent directors in the valuation process of hard to value assets.  In particular the recent Morgan Keegan case brought by the SEC against the independent directors was discussed where the SEC found the directors liable for failing to give meaningful insightful guidance to the manager. Although the board had regular board meetings the value of the information considered at those meetings was questioned by the SEC as the directors did not ask any questions as well as not being able to decipher from the information provided whether the valuations had changed since the last valuation approval.

MG Management’s directors have worked with hundreds of investment funds, private equity partnerships and other investment companies and have considerable experience in fund directorship and corporate governance.

Contact us now for a  consultation.

Email: contact@mgcayman.com or call: +1 345 749 8181

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