Cancellation Procedures for Registered Private Funds (2021-12-01)

Summary

This is a short industry notice from the Cayman Islands Monetary Authority (CIMA) informing registered private funds that the procedures for cancelling their certificates of registration are being revised, following an industry consultation held in June 2021. The notice does not set out new final procedures; it is an interim update telling funds what to do while the revision is pending.

• Interim procedure: Private funds wishing to cancel their certificate of registration should continue following the existing regulatory procedure for cancellation of licenses and registration issued under the Mutual Funds Act, together with CIMA's regulatory policy on the 'Exemption from Audit Requirement for a Registered Private Fund'.
• Submission method: All termination applications relating to private funds must be submitted to CIMA by email to a designated address (Terminations@cima.ky).

The notice applies to registered private funds (and their operators/administrators handling terminations) and is purely procedural/informational in nature, pending finalization of revised cancellation procedures.

Key obligations

• Private funds seeking to cancel their certificate of registration should continue to follow the existing regulatory procedure for cancellation of licenses and registration under the Mutual Funds Act, along with the regulatory policy on 'Exemption from Audit Requirement for a Registered Private Fund', until revised procedures are issued.
• All termination applications pertaining to private funds must be submitted to CIMA via email to Terminations@cima.ky.

Applies to

registered private funds