The Cayman Islands is making legislative changes to enhance the oversight of open-ended and closed-ended funds, especially those that are not registered with the Cayman Islands Monetary Authority. The Mutual Funds Bill would introduce a registration requirement for mutual funds with 15 or fewer investors and require the operators of those funds to file annual financial returns with CIMA, while private, or closed-ended, funds would also have to register with the financial regulator under the Private Funds Bill. These funds would also be subject to regulation. Under the Private Funds Bi...
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