The guidelines for applying for a licence under section 11(1) (Full) or 11(2) (Restricted) of the Mutual Funds Act 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. Fund application forms can also be accessed via REEFS. Applicants who wish to become authorised users of REEFS must submit a request to Reefs_Investments@cima.ky.
All funds regulated under the Mutual Funds Act with a financial year-end of 30 June 2020 or later are required to submit the Fund Annual Return Form Version 4.0. Various sections of the FAR Form Version 4.0 have been updated to collect additional information and data as outlined in the Mutual Funds (Annual Returns) (Amendment) Regulations, 2020. The relevant sections of the Completion Guide have also been updated to clarify the reporting requirements under those sections.
All funds regulated under the Mutual Funds Act with a financial year-end prior to 30 June 2020 are required to submit the Fund Annual Return Form Version 3.0.
This form is intended to provide a systematic and standardised 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 unauthorised parties are able to gain or has gained access to your systems; unauthorised 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 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. See listed application forms above.