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Bedell Cristin has advised Inflexion Private Equity on the acquisition of Estera, a leading global provider of funds, corporate and trust services, from Bridgepoint. Completion of the transaction is subject to regulatory approval.

Two new pieces of Cayman Islands ("Cayman") legislation have introduced important new obligations for trustees of Cayman trusts and Cayman trust companies. There are new obligations on trustees to keep records on those connected with the trust (including service providers). Both trustees and trust companies will have to disclose their status as trustees in certain circumstances. The Registrar of Trusts is now obliged to share information to allow regulatory and enforcement bodies to discharge their functions, and there are powers which give competent authorities the ability to request information. There are new regulations which set out details of the obligations.

The new Cayman Islands ('Cayman') Securities Investment Business (Amendment) Law, 2019 (‘Law’) ('SIBL') has passed, amending the ('SIBL') Securities Investment Business Law (2019 Revision).

The Cayman Islands Monetary Authority ('CIMA') has issued Notices under Regulation 53A of the Anti-Money Laundering (Amendment) Regulations, 2019 ('Regulations') that all persons currently registered as 'Excluded Persons' under the Cayman Islands ('Cayman') Securities Investment Business Law (2019 Revision)('SIBL') must file Anti-Money Laundering and Counter the Financing of Terrorism Reporting ('AML/CFT') Forms regardless of whether or not they wish to re-register pursuant to the transitional provisions in the Securities and Investment Business (Amendment) Law 2019 ('Amendment'). In a separate Notice dated 19 June 2019, the deadline for filing these forms was extended to 15 August 2019.