ARTICLE · 10 JANUARY 2020

Government Proposes Changes To Cayman Islands Funds Regime

Cayman Islands Government

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As the demonstrated leader in the global investment funds industry, the Cayman Islands is making legislative changes to enhance the oversight of open-ended and closed-ended funds.

Cayman IslandsGovernment, Public Sector

Ministry Of Financial Services

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As the demonstrated leader in the global investment funds industry, the Cayman Islands is making legislative changes to enhance the oversight of open-ended and closed-ended funds.

The changes being put forward by the Cayman Islands Government seek to modernise regulation for open-ended funds, i.e. mutual funds, and close-ended funds, i.e. private funds, in the Cayman Islands. The changes would provide additional surety and transparency for investors and managers of Cayman Islands investment funds, while better aligning with best market practices, enhanced anti-money laundering and other key regulatory standards.

The Private Funds Bill, 2020 (the "Private Funds Bill") and the Mutual Funds (Amendment) Bill, 2020 (the "Mutual Funds Bill", together the "Bills") reflect and seek to adopt similarly sensible and commercially responsive regulation that has been the mainstay of the Cayman Islands open-ended funds regime, and seek to maintain the Cayman Islands' position as

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