The new FAR Form in Excel format and the applicable Completion Guide are now available and have been uploaded to the website as at 05 February 2016. This version should be used for filings in the Regulatory Enhanced Electronic Forms Submission (“REEFS”) reporting portal https://reefs.cimaconnect.com for regulated funds with a year-end date of 15 September 2015 and later and any previous versions of the FAR Form will not be accepted.
For funds with a financial year end of 31 December 2014 or later, but prior to 15 September 2015, the previous FAR Form issued on 25 May 2015 should be used. For funds with a financial year end prior to 31 December 2014, the old FAR Form and E-Reporting Portal will continue to be used.
All three versions of the FAR forms are available on the website at the following link - http://www.cimoney.com.ky/regulated_sectors/reg_sec_ra.aspx?id=248.
For funds with a year-end date of 15 September 2015 and later, an individual FAR Form is now required to be submitted for each sub-fund within a multi-fund operating structure and each filing will require the applicable FAR filing fee of CI$300 to be paid by the fund. The Authority no longer allows multiple sub-funds to be “consolidated/aggregated” on one FAR form. For the purposes of the FAR, a “sub-fund” includes a segregated portfolio within a segregated portfolio company structure; a sub-trust within an umbrella or master unit trust structure; and a class of shares, or units or interests within a fund, trust or partnership structure, where each such class represents a separate standalone reporting entity (e.g. a fund with multiple portfolios, where each portfolio is individually presented with separate assets, liabilities, income and expenses).
Funds with a year-end date of 15 September 2015 and later which were allowed to file audited financial accounts with the Authority via email for de-registration purposes are required to file the audited financial accounts and new FAR Form through the relevant row on the REEFS portal.
If you require further information regarding FAR filings, please contact the Investments and Securities Division by email at firstname.lastname@example.org.
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