Securities Investment Business (Conduct of Business) (Amendment) Regulations, 2020 (SL 6 of 2020)

Summary

This 2020 amendment to the Securities Investment Business (Conduct of Business) Regulations, 2003 introduces a new annual reporting obligation for certain securities investment business licensees in the Cayman Islands. It inserts a new regulation 9A and an accompanying Schedule setting out the required content of a new 'Annual Client Reporting Statement'.

The obligation applies to licensees who either (a) carry on a regulated activity under Schedule 2 of the Securities Investment Business Law for a 'foreign fund' carrying on business in or from the Islands (as defined by reference to the Mutual Funds Law or Private Funds Law), or (b) manage securities belonging to a foreign fund that is not carrying on business in or from the Islands. Such licensees must submit an annual client reporting statement to CIMA in the prescribed form, together with any supplementary information CIMA may require, and following any guidance CIMA issues under section 12 of the Law.

• Required for all covered licensees: The fund's name and its jurisdiction of registration and incorporation.
• Additional requirement for limb (a) licensees only: The stock exchange on which the fund is listed and the name of any overseas regulatory authority regulating the fund.

The statement must be submitted to CIMA at the same time as the licensee's audited accounts are submitted under section 13(2) of the Law, effectively making this an annual filing tied to the audited accounts deadline.

Key obligations

• Licensees carrying on a regulated activity under Schedule 2 of the Securities Investment Business Law for a foreign fund carrying on business in or from the Islands must submit an annual client reporting statement to CIMA.
• Licensees managing securities belonging to a foreign fund (not carrying on business in or from the Islands) must submit an annual client reporting statement to CIMA.
• The annual client reporting statement must be submitted in the form set out in the Schedule and in accordance with any guidance issued by CIMA under section 12 of the Law.
• The statement must include such other supplementary information as CIMA may require.
• The statement must be submitted to CIMA at the same time as the licensee's audited accounts are submitted under section 13(2) of the Law.
• The statement must include the fund's name, jurisdiction of registration, and jurisdiction of incorporation.
• Licensees falling under regulation 9A(1)(a) must additionally disclose the name of any recognized stock exchange on which the fund is listed and the name of any recognized overseas regulatory authority regulating the fund.

Applies to

licensees under the Securities Investment Business Law (securities investment business licensees dealing with foreign funds)

Deadlines

• at the same time as the audited accounts under section 13(2) of the Law are being submitted: Deadline for submitting the annual client reporting statement to CIMA, tied to the licensee's audited accounts filing under section 13(2) of the Securities Investment Business Law.

Related documents

• This document amends Securities Investment Business (Conduct of Business) Regulations (2026 Revision)
• This document is made under Securities Investment Business Law (2020 Revision)
• Securities Investment Business (Conduct of Business) Regulations (2026 Revision) replaces this document