New regulation of “Master Funds” proposed

The Premier of the Cayman Islands, McKeeva Bush has announced that a new fee will be levied against certain “master funds” that form part of a master-feeder structure. Currently unregulated, these would now fall under new regulation by the Cayman Islands Monetary Authority with a fee of US$1,800 (CI$1,500) being chargeable when the master funds are registered.

The timetable for the implementation of the new registration requirements has not yet been released. Further details will be posted as they emerge.