Frequently asked question
What do independent directors do, and are they required?
Directors & Governance
Independent directors provide objective oversight of governance, conflicts, valuation, liquidity and service-provider performance. Director registration under the Directors Registration and Licensing Act applies to covered entities, including regulated mutual funds and specified SIBA registered companies. A private fund is not a covered entity solely because it is registered under the Private Funds Act. Independence and board composition must be assessed against the actual entity, applicable requirements and investor expectations; there is no universal majority-independent rule for every Cayman structure.
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Related definition: Independent Director.