Cayman Islands Private Funds Law and Mutual Funds (Amendment) Law 2020
On 7 February 2020, the Cayman Islands Government enacted the Private Funds Law 2020, and the Mutual Funds (Amendment) Law 2020, establishing parameters for registration of funds in accordance with international guidelines and regulations. Learn about the criteria, deadlines and requirements impacting Cayman Islands domiciled funds.
Overview of regulatory implications and deadlines
Under the Private Funds Law 2020, funds falling within the definition of a “private fund” will be required to register with, and be regulated by, the Cayman Islands Monetary Authority (“CIMA”). Such requirement became effective from 7 February 2020.
The Mutual Funds (Amendment) Law 2020 establishes that open-end funds formed in Cayman Islands that have 15 or fewer investors (who have the ability to appoint or remove the operator of the fund) are now required to register with CIMA.
The deadline established by CIMA for registration of both types of investment vehicles is August 7th, 2020.
Read the publications here:
Mutual Funds (Amendment) Law, 2020
Cayman Islands Private Funds Law, 2020
Recommendations
Cayman Islands Investment Management Practice
Serge Berube
Cindy Hislop
