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Recently Released Funds Guidance Notes
In recent months, the Cayman Islands has seen an unprecedented number of substantial amendments to the regulatory regime for Cayman Islands funds. A new regulatory framework for virtual asset providers has also been introduced. The Cayman Islands Government has released new regulations for private funds and mutual funds as well as virtual asset service providers.
The below guidance notes address virtual asset service providers as well as how fund registration, continuing obligations and anti-money laundering are affected by the new laws.
Registration of Virtual Asset Providers in the Cayman Islands - This legal update sets out the new regulatory framework for virtual asset providers.
Fund Registration in the Cayman Islands - This Guidance Note sets out the different types of regulated funds available in Cayman Islands, the requirements under the new Private Funds Law and Mutual Funds Law and the structuring of funds.
Registration and Continuing Obligations of Section 4 (4) Funds - This Guidance Note sets out the registration and continuing obligations of limited investor funds (formerly known as section 4(4) funds) which will now be required to register with the Cayman Islands Monetary Authority (“CIMA”) under the new Mutual Funds Law.
Registration and Continuing Obligations of Private Funds - This Guidance Note sets out the registration and continuing obligations of a private fund registered with the CIMA under the new Private Funds Law, 2020.
Anti Money Laundering For Funds 2020 - This Guidance Note sets out the principal legislation and requirements for Cayman Islands funds that are conducting “relevant financial business” who need to comply with certain AML Measures under The Proceeds of Crime Law (2020 Revision) and The Anti-Money Laundering Regulations (2020 Revision).