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In January 2013, the Cayman Islands Monetary Authority (“CIMA”) held a private
sector consultation process regarding corporate governance for regulated entities in
the Cayman Islands and in July 2013 produced, specifically for Mutual Funds, a
Consultation Paper and a draft Statement of Guidance on Corporate Governance for
Mutual Funds (“SoG‐MF”), intended to apply to all regulated mutual funds. CIMA
circulated the SoG‐MF for industry review and, on 5 December 2013, after reviewing
and considering industry comments, issued a final draft of the SoG‐MF.
The SoG‐MF seeks to provide high‐level guidance on the corporate governance
standards expected in the oversight of regulated mutual funds by its operators (i.e.
directors) including the primary duties applicable to the directors of such funds.
To continue reading full articles in PDF format:
Cayman Islands: Fund-Specific Guidance on Corporate Governance