On 8 January, after a period of industry consultation, the
Cayman Islands Government issued the Private Funds Bill 2020 (the
"Private Funds Bill") and the Mutual Funds (Amendment)
Bill 2020 (the "Mutual Funds Bill" and together with the
Private Funds Bill, the "Bills"). The Bills are not yet
law and will be considered for enactment at the 30 January 2020
meeting of the Cayman Islands Legislative Assembly.
The aim of the Bills is to bring within the scope of regulation
closed-ended and private funds which are currently beyond the scope
of the Mutual Funds Law (2019 Revision) (the "Mutual Funds
Law") and to modernise the regulation of both open-ended and
closedended funds. The intended result is to align the Cayman
Islands' funds regulatory regime with best international market
practice and to ensure compliance with enhanced anti-money
laundering and other applicable local and international regulatory
standards. Several key features of the Bills are to be confirmed
