Cayman Islands to require “4(4)” funds to register with CIMA and obtain local audits
04 Feb 2020
The Cayman Islands government has published a Mutual Funds (Amendment) Bill, 2020 (the Bill) which will require previously exempt mutual funds to register with the Cayman Islands Monetary Authority (CIMA) and have their accounts audited by a local Cayman-based audit firm and filed with CIMA, both on an annual basis.
The Bill will be debated by the Legislative Assembly and has been developed as part of the Cayman Islands commitment to remain a leading investment funds jurisdiction.
Harneys client alert covering all the details has been published and can be found here.