Rules on the corporate governance of Cayman Islands regulated entities are being extended from October 2023 to cover private investment funds as well as mutual funds. The aim is to 'provide a consistent and enforceable governance regime for all regulated Cayman Islands entities, while eliminating some of the gaps in the current regime', says law firm Carey Olsen. The new rules include a statement of guidance on the nature, accessibility and retention of records. The Cayman Islands Monetary Authority (CIMA) will have powers to impose administrative penalties for breaches.
News Source：【Carey Olsen 2023/06/14】