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ARTICLE · 07 APRIL 2020

Mutual Funds – Enhanced Information Required For Annual Returns

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The Mutual Funds (Annual Returns) (Amendment) Regulations, 2020 came into effect on 17 March 2020 to further strengthen anti-money laundering and counter financing of terrorism measures in the Cayman Islands.

Cayman IslandsFinance and Banking
Conyers
Conyers
Nicholas Pattman
Nicholas Pattman
Piers Alexander
Piers Alexander
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The Mutual Funds (Annual Returns) (Amendment) Regulations, 2020 (the "2020 Regulations") came into effect on 17 March 2020 to further strengthen anti-money laundering and counter financing of terrorism measures in the Cayman Islands. Mutual funds are now required to provide additional data to the Cayman Islands Monetary Authority ("CIMA") for its use in assessing money laundering and terrorism financing risks posed by the investment funds sector.

2020 Regulations Requirements

Operating Structure

The recently enacted 2020 Regulations are a result of ongoing sectoral risk assessments carried out by CIMA and mark another step towards improving the Cayman Islands' technical compliance with recommendations of the Financial Action Task Force. The 2020 Regulations amend the Mutual Funds (Annual Returns) Regulations (2018 Revision) and require regulated mutual funds to include additional information in their annual returns. Information concerning the operating structure

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