The Cayman Islands is changing the way it regulates
funds. Two new measures – the Mutual Funds Law 2020 and the
Private Funds Law 2020 – have been approved by the
Legislative Assembly.
The changes are in response to pressure from the EU and
Caribbean Financial Action Task Force on the Caymans to improve
transparency; and demand from private equity investors for fully
independent asset verification, valuation and audits.
During an Assembly debate, Minister for Financial Services, Tara
Rivers, said the approach "modernises funds regulation in the
Cayman Islands by providing additional surety and transparency for
investors and managers of Cayman Islands investment funds while
upgrading our position in line with best practices around
anti-money laundering and other key regulatory standards."
