We previously published an article detailing draft legislation
named the Private Funds Bill which was published on 8 January 2020
(the 'Bill'). The Bill was approved by the
Cayman Islands Government on 31 January and enacted into law as the
Private Funds Law 2020 on 7 February (the
'Law'). By way of reminder, the Law sets
out requirements for the registration of closed ended funds with
the Cayman Islands Monetary Authority
('CIMA'), bringing closed ended funds
within the scope of a regulatory regime for the first time in this
jurisdiction.
Timings
The commencement date of the Law is 7 February 2020 (the
'Commencement Date').
A set of transitioning regulations named the Private Funds
(Savings and Transitional Provisions) Regulations, 2020 (the
'Transitional Regulations') were published
alongside the Law.
