Board Support Services
All fund boards and directors should have access to professional board support services. Waystone offers an institutional quality, comprehensive Board Support Service (BSS) provided by industry experts to a variety of entities, including hedge funds, mutual funds and private investment funds.
Waystone BSS is available to fund boards and committees, designed to reduce the administrative burden of the meeting and related corporate secretarial processes. It allows the investment manager and fund governing bodies to spend their time on core business functions.
Waystone provides crucial support to uphold the entities’ compliance with regulatory requirements and guidelines, including the Cayman Islands Monetary Authority’s (CIMA) Rule on Corporate Governance and the Statements of Guidance – Corporate Governance, for both Regulated Mutual Funds and Regulated Private Funds. Our service also encompasses organizing meetings and coordinating with relevant fund participants to gather necessary materials, while tailoring agendas to meet specific needs.
With teams in the Cayman Islands, North America, Asia and Europe, the Waystone BSS team is able to service its global client base in their own time zone with cutting- edge technology. Our seamless integration among our proprietary Waystone engagement management system and industry-leading Board Intelligence software goes beyond basic statutory meeting requirements, allowing us to continually develop and implement processes that maintain effective fund governance.
Fiduciary duties and oversight responsibilities under the relevant regulations are supported by the BSS team, which assists boards and committees through efficient governance and compliance assistance. The Waystone BSS team also aids in the preparation of fund documentation including high quality board minutes and board resolutions, sharing industry best practices and maintaining institutional-quality records to facilitate prompt and accurate due diligence reporting. In recent years, there has been increased emphasis from regulators and institutional investors on the quality of fund governance records disclosure and reporting, and a call for increased transparency.
Waystone’s BSS professionals foster effective working relationships with all board and committee members, with a dedicated BSS professional assigned to each client. They support clients in establishing a robust governance framework and assist in tracking the board’s periodic review and approval of policies and procedures.
The Waystone BSS function includes the following services:
Waystone BSS may also be combined with the Waystone Cayman Compliance Monitoring Tool to increase transparency and efficiently demonstrate the corporate governance and oversight of the governing body.
The Waystone BSS team delivers cost-effective board support solutions, tailored to meet the fund’s individual requirements. For further information please contact us below.