Grand Cayman, Cayman Islands (Tuesday, 18 August) Following the passage of the registration deadline (7 August 2020) for private funds, the Cayman Islands Monetary Authority (“CIMA” or “the Authority”) wishes to advise that the transitional period for such funds has closed. Applications for new private funds should be submitted to the Authority via its online filing portal, Regulatory Enhanced Electronic Forms Submission (“REEFS”), using form APP-101-77.
A total of 12,328 applications were received as at the 7 August 2020 deadline.
CIMA’s Managing Director, Mrs. Cindy Scotland said, “It has been a hectic period for the Authority and the Cayman Islands industry alike, given the required filing for private funds. I commend the CIMA staff for their hard work and dedication during these unprecedented times. Their contributions made thus far, reiterate our commitment to enhancing our position as a financial services regulator of excellence.”
Despite the many challenges faced, CIMA looks forward to working with all industry stakeholders, the Cayman Islands Government and other competent authorities to ensure that the jurisdiction remains a top domicile for funds services.