Cayman regulator formalises ties with Brazil

CIMA managing director Cindy Scotland signed the second memorandum with Brazil's Securities and Exchange Commission (CVM). The first has been in place with the Brazil Central Bank since March 2006. "These arrangements are especially critical now in light of the global financial crisis which has, in some way, affected so many countries," says Scotland. "Brazil is one of the largest emerging economies in the world - one of the BRIC nations - with significant prospects for growth and development and I believe this MoU has an important role to play in bolstering economic opportunities betwe...