Stuarts Walker Hersant Humphries, a leading Cayman Islands law firm, is pleased to announce the admission of Adam Russell-Knee on his admission to the Grand Court of the Cayman Islands. (L to R) Hon. Margaret Ramsay-Hale (Judge), Adam...
Clients are advised that the Private Funds (Annual Returns) Regulations, 2021 and the Private Funds (Amendment) Regulations, 2021 are now published and are in force.
The Private Funds (Annual Returns) Regulations, 2021 provide the prescribed annual return form for the provision of general, operating and financial information on the private fund to the Cayman Islands Monetary Authority (CIMA). The Private Funds (Amendment) Regulations, 2021 create a notification process for private funds, registered with CIMA, that have not received capital contributions from their investors and as a result, are not legally required to file audited accounts or annual returns. The notification process requires operators of those funds to submit an operator’s declaration, as outlined in the regulations, within six months after the end of the private fund’s financial year.
In due course, if you have entities that are registered Private Funds, you will need to provide the relevant information for the Annual Return, or for the notification.
If you are the operator of a Private Fund that has not received capital contributions from its investors and as a result, is not legally required to file audited accounts or annual returns please contact your usual Stuarts attorney as it is likely you will need to file an operator’s declaration prior to the end of June 2021.