Legal Insights

Regulatory framework and authorities 1. How is fund management regulated in your jurisdiction? Which authorities have primary responsibility for regulating funds, fund managers and those marketing funds? The main regulatory body in the Cayman Islands that regulates open- ended investment funds, closed-ended investment funds, fund managers and parties…

As the regulatory requirements and cost burden increase for investment management entities in the Cayman Islands, many of our clients are looking for other offshore solutions. Under the Cayman Islands’ Securities Investment Business Act (2020 Revision) as amended, all Cayman entities carrying on securities investment business as investment…

The vast majority of open-ended investment funds will qualify as mutual funds under the Mutual Funds Law (As Revised), which requires mutual funds to be licensed or regulated as such. Closed-ended funds (i.e., investment funds that issue investment interests which are not redeemable at the option of the…

The risk of back-dating Cayman Islands law governed documents If the parties to an agreement governed by Cayman Islands law would like the agreement to take effect from a date earlier than the date upon which the agreement was signed and entered into, the parties should expressly state…

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On 9 February 2016, Clifford J., sitting in the Financial Services Division of the Grand Court of the Cayman Islands gave Judgment in In Re Torchlight Fund L.P. (unreported) reaffirming the principles which the Court will take into account in determining whether to grant a validation order. This article seeks…

As the regulatory requirements and cost burden increases for investment management entities in the Cayman Islands, many of our clients are looking for other offshore solutions. Under the Cayman Islands’ Securities Investment Business Law (2020 Revision) as amended, all Cayman entities carrying on securities investment business as investment…

Commencing the voluntary winding-up of a mutual fund is deceptively easy but, as soon as it is contemplated, the Fund Manager’s role and responsibilities change in subtle but very important ways. Some of these responsibilities have had a timely airing recently in the Cayman Islands’ Grand Court and…