The seriousness with which the Cayman Islands continues to meet
and exceed international standards in a proactive and sophisticated
manner has been underlined this week. The introduction of
amendments to the Private Funds Law to further clarify the scope of
application to certain entities were passed on 7 July.
- Fast tracked changes to definition of
private funds to give greater certainty and clarity
- Broad acceptance and compliance with
new requirements
- Increasing numbers of registrations
ongoing in advance of 7 August hard deadline
On 7 February the Cayman Islands Government published the
Private Funds Law, 2020 and the Mutual Funds (Amendment) Law, 2020
in order to enhance the oversight of both open-ended and
closed-ended funds in the jurisdiction and to respond to EU
requirements with respect to transparency, best market practice,
enhanced anti-money laundering procedures and other key regulatory
standards (please refer to our previous update here).
