New Laws for Cayman Islands Private Funds and Previously Exempt Mutual Funds - February 2020
The Private Funds Law, 2020 and the Mutual Funds (Amendment) Law, 2020 came into force in the Cayman Islands on 7 February 2020. These laws introduce entirely new requirements for private funds in the Cayman Islands and remove the regulatory exemptions for mutual funds with fewer than 15 investors that previously existed.
Compliance with the requirements of the new laws should be a relatively simple task for funds that are in scope of them, but failure to comply may be punishable by a fine of up to CI$100,000. Please read our briefing for more information.