The Cayman Islands Monetary Authority ("CIMA") has released the form of FAR which is to be filed by all private funds registered pursuant to the Private Funds Act (the "Act").
Operators of private funds (the directors, general partner or trustee depending on the entity type) are responsible for completing and submitting a FAR together with the private fund's audited financial statements and an operator declaration confirming compliance with certain provisions of the Act within six months of the private fund's financial year end. CIMA has extended the first FAR filing deadline for all registered private funds with a financial year end before 31 March 2021 to 30 September 2021. Filings are to be made online via CIMA's Regulatory Enhanced Electronic Forms Submission system by the fund's Cayman Islands auditor or other designated person. For further details, please see CIMA's detailed Completion Guide covering the completion and submission of the FAR.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
