On 19 August 2022, the Cayman Islands Monetary Authority (CIMA) issued a private sector consultation paper along with proposed measures for comment on the rule on corporate governance for regulated entities and Statement of Guidance on Corporate Governance for Mutual Funds and Private Funds (Rule and Statement of Guidance).

Private sector associations have until 21 September 2022 to provide consolidated comments.

Once completed and issued by CIMA, the Rule and Statement of Guidance will have an impact on the way funds operate. We will issue further guidance once the Rule and Statement of Guidance are finalised.

A copy of the 19 August 2022 press release from CIMA can be found here.