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  4. Cayman Islands to require “4(4)” funds to register with CIMA and obtain local audits

Cayman Islands to require “4(4)” funds to register with CIMA and obtain local audits

04 Feb 2020
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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.

Authors
Matt Taber
Partner | Funds & Regulatory | Cayman Islands
Carolynn Vivian
Partner | Governance Risk & Compliance | Cayman Islands