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The extraordinary public dispute between CIMA and Maples, along with the $4.23 million fine meted out to Intertrust Cayman, suggests that all is not well in this Caribbean jurisdiction. Should investors and managers of Cayman funds be concerned?

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Does substantial variability in standards matter or not?

As covered in some detail in April’s issue, The NED is consulting with regulators, investors and the industry at large on fund board composition matters.

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Incorporating ESG into risk management is hugely complicated, especially for SFDR compliant funds. Practically no one has any experience or competency in this area. This looks like becoming the biggest issue those with board risk responsibilities have had to face in years.

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Governance-washing is likely to be added to ESG’s lexicon, alongside green-washing and social-washing. Fund managers who practice governance-washing are those that want the world at large, and their investors in particular, to think that they are more diverse, modern and ESG-orientated than they actually are.

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The French say they will veto an EU-UK agreement on equivalence unless their fishermen are given access to British waters. Meanwhile Bank of England Governor Andrew Bailey has accused the EU of trying to use equivalence to turn the UK into its regulatory satellite.

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