Apsley Specialty launches new product for Cayman Directors
Cayman Islands: Insurance provider Apsley Specialty (“Apsley”) has launched a new insurance offering on the back of a new Directors, Registration and Licensing Law (DRLL) which came into force earlier this month. The new product has been developed specifically to assist Cayman-based directors to comply with the regulatory changes.
The DRLL, which was officially implemented on 23rd May, applies to all directors of Mutual Funds regulated under the mutual funds law, and the majority of those companies registered as ‘excluded persons’ under the Securities Investment and Business Law (2011 Revision). The additional previsions set out by the Cayman government, came into force on 4th June.