Cayman Islands Private Funds Law 2020 and Mutual Funds (Amendment) Law 2020
Approaching Registration Deadline (7 August 2020)
On 7 February 2020, the Cayman Islands government enacted the new Private Funds Law bringing most closed-ended funds the first time into Cayman Islands Monetary Authority (CIMA) regulatory regime and requires registration with CIMA.
Separately, the Mutual Funds (Amendment) Law 2020 was also enacted on the same date requiring previously exempted open-ended funds under section 4(4) of the law to be registered with CIMA.
Under 6 month transitional period, the existing impacted funds must be registered with CIMA by 7 August 2020.
We strongly recommend those funds which are captured under the relevant laws to work diligently towards compliance with the new requirements as soon as practicable.