Tuesday, March 10, 2020

The Mutual Funds (Amendment) Bill (2020) and the Private Funds Bill (2020) (collectively, the “Bills”) were enacted by the Cayman Islands Government in February 2020. The new legislation requires certain previously non-registered hedge funds and private equity vehicles to register with the Cayman Islands Monetary Authority (CIMA).

These regulatory changes will have a significant impact on both Cayman Islands domiciled hedge funds and private equity funds. One of the key impacts of registration, being the annual audit of the fund’s financial statements, is analysed in this article.

Audit requirements for Cayman funds (PDF)