November 29, 2021

CIMA: Proposed changes to outsourcing arrangements for funds service providers

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By Matt Roberts From Harney Westwood & Riegels Contact The Cayman Islands Monetary Authority (“CIMA”) has recently released a draft Statement of Guidance: Outsourcing All Regulated Entities (Excluding Regulated Mutual Funds) (“SOG”) and Consultation Paper (“Paper”). The Paper calls upon the private sector to make submissions to CIMA in respect of the SOG, which submissions […]

Continuing obligations for Cayman Islands investment funds

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From Mourant Ozannes The continuing obligations of Cayman Islands regulated funds are set out in the Companies Law and Mutual Funds Law (as amended). Each Cayman Islands regulated  mutual fund must: •          Pay an annual fee to the Cayman Islands Registrar of Companies (the Registrar); •          Pay an annual fee to the Cayman […]

CIMA issues important statement of guidance for boards of regulated mutual funds

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By John Donohoe, Carne Global Financial Services Limited New recommendations will help fund managers to meet governance expectations of investors. The Cayman Islands Monetary Authority (CIMA) has issued its proposed Statement of Guidance for Regulated Mutual Funds (SOG). CIMA has reviewed and considered the industry comments it received during an extensive consultation process and has […]