Aaron Unterman

Aaron Unterman

Managing Director (Cayman Islands)
X

Aaron is the Managing Director of XReg Consulting SEZC (Cayman). He has deep experience in the development and implementation of regulatory frameworks and his background and network help clients to navigate the evolving international landscape for virtual assets.  

Aaron began his career as a banking and financial services lawyer at the leading Canadian law firm Osler, Hoskin & Harcourt LLP where he specialised in derivatives, securitisation, and syndicated lending. Following his time in private practice, Aaron worked in the derivatives branch of Canada’s largest market regulator, the Ontario Securities Commission, and led a range of important policy making initiatives including implementing Canada’s G-20 regulatory reform commitments by creating a framework for the regulation of OTC derivatives. He was also involved in a wide range of virtual asset, securities, and derivatives matters including enforcement cases, dealer and market infrastructure oversight and novel product offerings. During his OSC career, Aaron was actively involved with international organisations including representing the OSC as co-chair of the IOSCO task force on derivatives and the FSB.

Most recently Aaron was the Deputy Head of the Policy and Development Division at the Cayman Islands Monetary Authority and was responsible for virtual assets, securities, funds, and related matters. Aaron led the development of CIMA’s regulatory framework for virtual asset service providers including developing rules and guidance for custodians, trading platforms, issuances, and the sandbox regime. He also managed and provided advice on the registration and licensing of VASPs.