The Securities Investment Business Law (Revised) of the Cayman Islands (the SIB Law) regulates the conduct of certain securities investment activities, including dealing, arranging deals in, managing or advising on assets, rights, interests or certain other specific financial instruments or transactions, in or from within the Cayman Islands.
Typically, the SIB Law will apply to any Cayman Islands companies and partnerships, foreign companies registered in the Cayman Islands, or any foreign incorporated entities which have established a place of business in the Cayman Islands who engage in what the SIB Law defines as "securities investment business" either in or from the Cayman Islands.
If the SIB Law applies to an entity and its activities, then that entity must apply to the Cayman Islands Monetary Authority (CIMA) for a licence under the SIB Law unless otherwise specifically exempted from holding a licence under the SIB Law.
This guide covers the following areas:
- Does the SIB Law apply to me?
- What are securities and what is securities investment business?
- Are any activities excluded from the definition of securities investment business?
- Are there any exemptions from the licensing requirement?
- Director registration
- What is the licensing process?
- Directors and officers
- Change in ownership
- Enforcement by CIMA
- How does the SIB Law work in
practice?
- Investment managers
- Brokers and market makers
- Cayman companies issuing their own shares
- Buying and selling securities for your own account
- Are any activities excluded from the
definition of securities investment business?
- General partner of a partnership
- Trustees
- Directors of a company
- False or misleading market and insider trading
Download a PDF of this guide here.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
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