The New Year heralds the introduction in the Cayman Islands of
the registration and regulation of all closed-ended funds. As the
jurisdiction of choice for the establishment of such funds outside
of the US, the Cayman Islands remains at the forefront of legal and
regulatory developments in this area. We expect fund sponsors,
investors and regulators to benefit from the alignment of law and
best market practice in this regard.
On 8 January 2020, the Private Funds Bill, 2020 was published
(the "Bill"), and we expect that the
Bill will become law by the end of January 2020. Whilst the
timetable for implementation of the Bill is yet to be determined,
and certain points of detail remain to be confirmed by regulations
and guidance, the key provisions relevant to fund sponsors and
investors are now sufficiently settled for clients to begin to make
the substantive arrangements necessary for compliance with the new
regime. We expect that ample time will be provided to permit
