The guidelines for applying for a licence under section 11(1) (Full) or 11(2) (Restricted) of the Mutual Funds Law is contained in The Mutual Fund Administrators Licence (Applications) Regulations.
All fund applications must be duly completed and accompanied by the relevant supporting documentation and prescribed fee.
Audited Financial Statements and Fund Annual Return Form
Details regarding updates made to the new Fund Annual Return (“FAR”) Form can be found here.
Funds with a financial year end of 30 June 2020 or later are required to submit the new annual return (FAR Form Version 4.0).
All other funds regulated under the Mutual Funds Law are required to submit an annual return (FAR Form Version 3.0) to the Authority within six months of the fund’s financial year-end.
This form is intended to provide a systematic and standardized means of alerting the Authority of cyber breaches, and to provide periodic update reports through to incident resolution. A cyber incident should be reported immediately when it is deemed to have a material impact or has the potential to become a material incident. Material cyber threats may include instances of significant loss of data or system controls; potential to impact a significant volume of clients; where unauthorized parties are able to gain or has gained access to your systems; unauthorized parties are able to introduce material, software, viruses, or spyware to your systems; and/or alter or extract data from your systems.
Forms should be submitted to LicenseeQueries@cima.ky.
The Cayman Islands Monetary Authority requires that every Director, Officer, Manager and Shareholder who is a natural person holding more than 10%, who wishes to be appointed to a company licensed under Sections 4(1)(a), 11(1) and 11(2) of the Mutual Fund Administrators Licence (Applications) Regulations, complete a Personal Questionnaire and submit it with the supporting documentation described in Form MF3.