Director Registration and Licensing Act, 2014 Update

The deadline under the Cayman Islands’ Director Registration and Licensing Act, 2014 (the "Law") has now passed for all directors, whether resident in the Cayman Islands or non-resident, of (i) regulated mutual funds and (ii) companies which maintain a registration as an excluded person pursuant to the Securities Investment Business Act (the “SIBA Exemption”) to register with the Cayman Islands Monetary Authority ("CIMA"). 

Our funds team continues to provide pro-active advice to assist in the registration process.  Some clients may not wish to complete the registration process with CIMA and we can provide a replacement independent director where necessary.