Cayman’s Private Funds Bill

Registration is to be mandatory for Cayman private funds including partnerships, unit trusts and LLCs. With provisions for valuations, fund asset safekeeping, cash monitoring etc the Bill is extremely extensive

The Cayman Islands Government published a Private Funds Bill in early January. Its main feature is the obligation of private or closed ended funds to register with CIMA.

Maples had written the following: ‘The Bill, reflecting the Cayman Islands' commitment as a co-operative jurisdiction, is responsive to EU and other international recommendations and covers similar ground to existing or proposed legislation in a number of other jurisdictions.’

To read more on this story see the January issue of The NED.