Citing client demand, Higgs &
Johnson has announced it was recently admitted as a listing agent of the Cayman
Islands Stock Exchange.
The law firm can now assist clients
in getting listed on the Exchange.
“This will allow them to more
easily market their securities not only in the Cayman Islands but in other
jurisdictions, such as the Bahamas, which recognise the International Organisation
of Securities Commissions’ approval of the Cayman Islands,” said Senior Associate
at Higgs & Johnson, Benjamin Wrench.
A press release notes the Organisation’s
recognition of the Cayman Islands is a reflection of the jurisdiction’s good
corporate governance fostered by legislation, regulation and codes of good
practice that meet or exceed the Organisation for Economic Corporation and
Development’s Principles of Corporate Governance.
Mr. Wrench explained that the
benefit of listing is to give investors the assurance that listed companies
(including investment funds) and their directors adhere to higher standards of
corporate governance that have been championed by the OECD.
As of 31 December, 2009 there were
approximately 9,500 open-ended regulated funds registered with the Cayman
Islands Monetary Authority. January 2010
has seen a further 167 new open-ended funds registered with CIMA (a 38%
increase on the number of new funds in the same period last year). The CSX has approximately 750 mutual fund and
Pullout: As of 31 December, 2009
there were approximately 9,500 open-ended regulated funds registered with the
Cayman Islands Monetary Authority.