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ARTICLE · 13 JULY 2020

Regulation Of Closed Ended Cayman Funds – Extended Scope

Dillon Eustace
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The Cayman Islands Private Funds Law, 2020 (the "Law") was enacted on 7 February 2020 and requires that certain closed ended funds should be registered with ...

Cayman IslandsFinance and Banking
Jonathan Law
Jonathan Law
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The Cayman Islands Private Funds Law, 2020 (the "Law") was enacted on 7 February 2020 and requires that certain closed ended funds should be registered with the Cayman Islands Monetary Authority ("CIMA") by 7 August 2020. On 7 July 2020 the Law was amended by the Private Funds (Amendment) Law, 2020 (the "Amendment") to:

  • extend the scope of the definition of a "Private Fund";
  • to require that conflicts of interest arising in relation to valuation, safekeeping of fund assets and cash monitoring are managed and monitored; and
  • to remove the power of the Cayman Government to exempt persons or businesses from the application of the law.

Who is affected by the Amendment?

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