Cayman Islands Independent Directors & Corporate Services

Utilising independent directors is the foundation of good corporate governance.

Independent Directors

We help clients by providing experienced and qualified independent directors to a diverse number of hedge funds and other types of investment companies. Our directors aim to add value in all matters they are involved with by using their experience and insight gained over the last 11 years offshore.

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Corporate Governance

We meet our client needs with real corporate governance.  The experience of our directors is unrivaled and they have been involved with the full lifespan of hundreds of investment funds.

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Services to Investment Managers

We have 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, please contact us for further information.

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Value-added Services

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

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Why does a Fund need independent directors?

  • Preferred by investors and regulators.
  • Provides a greater level of transparency.
  • Independent oversight.
  • Protects the investors and the fund.
  • Provides guidance to the manager
  • Reduces liability for the manager.
  • The recent Weavering case made clear that Cayman Islands courts do not look kindly on non-professional directors.

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

Our Victor Murray recently (January 2013) participated as a panelist on the Regulatory Compliance Association 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. In addition, 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 appropriate questions  and they were not able to decipher from the information provided whether the valuations had changed since the last valuation.

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 free consultation.

  • Free Consultation