“High net worth person” means:-
  • (a) an individual whose net worth is at least CI$800,000 or its equivalent in any other currency; or
  • (b)any person that has total assets of not less than CI$4,000,000 or its equivalent in any other currency.
“Sophisticated person” means a person:-
  • (a) regulated by the Authority;
  • (b) regulated by a recognised overseas Authority;
  • (c) any of whose securities are listed on a recognised securities exchange; or
  • (d) who:-
    • (i) by virtue of knowledge and experience in financial and business matters is reasonably to be regarded as capable of evaluating the merits of a proposed transaction; and
    • (ii) participates in a transaction with a value or in monetary amounts of at least CI$80,000 or its equivalent in any other currency, in the case of each single transaction.

The current recipient of the Paul F. Fenton Scholarship is Daniel Harrington (September, 2016).  Caroline Key was the first recipient of the Scholarship (September 2009).

The Paul F. Fenton Scholarship Award

The Paul F. Fenton Award is named in recognition of Paul Fenton (Finance Professor at Bishop’s University from 1974-88). The award is worth $20,000 CDN per annum. This amount will substantially cover the cost of a student attending Bishop’s University in Canada, including tuition, books, residence, a meal plan and compulsory fees. Paul Fenton was Desmond Kinch’s mentor that first got him interested in investments when he was a student at Bishop’s (from 1981-84). The award is offered to a student as follows: Awarded to a Caymanian student who is currently enrolled in any school in the Cayman Islands. Preference will be given to a student who is pursuing a major in Business. Consideration will be given to the financial ability of the student to pay international student fees. The award is renewable for the duration of the student’s studies to a maximum of four years, subject to the student maintaining a minimum average of 75%. The criteria for maintaining this award corresponds roughly to maintaining an average in the top quartile for all Business students enrolled at Bishop’s. Selection of candidates are made by the Bishop’s University APEX Committee (Awards for Peer Excellence) in consultation with the Cayman Islands Department of Education. The Bishop’s University web site is