Modernizing the Mutual Funds Law in the Cayman Islands

 Cayman's mutual fund industry is proof of Darwin's theory that progress takes place more than long periods. Admittedly it is taking years rather than millennia, however, the process of modernizing the legislation governing Cayman's mutual fund industry appears to be a perplexing process.

Rapid count together in Cayman's hedge fund industry is the backdrop against which the current review of the regulatory regime is up. The number of funds registered or licensed by now the Cayman Islands Monetary Authority (CIMA) has been growing at a scarcely believable pace.

CIMA conventional a full of zip group of representatives from the Cayman Islands Fund Administrators Association, the Cayman Islands Society of Professional Accountants, the Cayman Islands Law Society and the Cayman Islands Bar Association to scrutinize the recommendations of CIMA's own Policy and Research Division which has examined the regulation of the mutual funds industry.

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