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Webinar: Lost at Sea? Navigating Jurisdictional Issues for U.S. CLOs in the wake of the FATF’s Grey-listing of the Cayman Islands and in light of its potential EU AML Blacklisting

Webinar: Lost at Sea? Navigating Jurisdictional Issues for U.S. CLOs in the wake of the FATF’s Grey-listing of the Cayman Islands and in light of its potential EU AML Blacklisting

Join us for a joint webinar with Alston & Bird at which the panel will discuss (among other things) the grey-listing, its significance under the UK and EU securitisation regulatory regimes and the suitability of Delaware, the BVI and Bermuda as potential alternative jurisdictions for US CLOs.

Register for the webinar here. 

The Financial Action Task Force (FATF) placed the Cayman Islands on its ‘grey list’ in February 2021. The list sets out the jurisdictions which are under ‘increased monitoring’ by the FATF in relation to their AML and anti-terrorist finance regimes.

As a result of the grey-listing, it is likely that the EU will place the Cayman Islands on its AML ‘black list’ with effect from 1 October 2021. If this happens, the EU Securitisation Regulation will prohibit European investors from investing in Cayman Islands CLO issuers. 

Arrangers of U.S. CLOs which will take on European investors will therefore probably need to consider alternative jurisdictions for the formation of issuers in the near future. Along with Delaware, the BVI and Bermuda are prime candidates.  

During the webinar, Client Director, Kareem Robinson (Cayman Islands), Managing Partner, George N. H. Jones (Bermuda) and Partner, Nathaniel Luker (Cayman Islands) will discuss the grey-listing and explain why arrangers and managers may wish to consider BVI- or Bermuda-issued transactions if the EU places the Cayman Islands on its AML ‘black list’.

Alston & Bird Partners James Fisher (London), Joseph Gambino (New York) and Peter Williams (New York) will also discuss the significance of the grey-listing of the Cayman Islands under the UK and EU securitisation regulatory regimes, the key historical reasons for organising U.S. CLOs in the Cayman Islands and what Delaware has to offer as a potential alternative jurisdiction for them.

Webinar details

The webinar will be hosted by Alston & Bird on Tuesday, September 14, 2021 at 4pm BST / 11am ET / 10am CT / 8am PT / 5pm CEST.

Register for the webinar here. 

The webinar will be broadcasted via Zoom. A recording of it will be available if you're unable to attend.

Structured finance services

Ocorian provides a full suite of administration, corporate and fiduciary services to a wide range of structured finance industry participants in numerous jurisdictions, including the Cayman Islands, the BVI and Bermuda. We also provide legal services in relation to structured finance transactions and matters in the Cayman Islands and Bermuda.

If you would like to discuss how we can support and facilitate your structured finance operations and transactions, please get in touch with one of our team below.

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