Cayman regulator refutes Woodford registration claims - reports

James Baxter-Derrington
clock • 1 min read
Cayman regulator refutes Woodford registration claims - reports

The financial regulator of the Cayman Islands has confirmed that WCM Partners has yet to file a registration for its new healthcare fund.

The Cayman Islands Monetary Authority (CIMA) confirmed to the Cayman Compass on 29 April that "there is no current or pending registration with the Authority in reference to Mr. Neil Woodford".

CIMA's rebuttal follows reports that Woodford's attempted return to the industry, WCM Partners, had registered its healthcare portfolio in the Cayman Islands after the Jersey regulator asserted the island would not be a "back door" to access the UK market.

When pressed on whether CIMA would allow Woodford to set up shop in the Cayman Islands, the regulator cited its private funds legislation: "Section 7 of the Private Funds Act outlines the basis on which the Authority may refuse to register a private fund, which includes investigations by other competent authorities."

An investigation into the collapse of Woodford Investment Management is currently ongoing by the Financial Conduct Authority, more than 20 months after it began.

Woodford's slated return prompted Gina Miller of the True & Fair Campaign to argue the public is "losing faith" in this investigation and has called on the Treasury Select Committee to chair an independent investigation into the collapse.

First published by our sister title Investment Week