GEORGE TOWN, Grand Cayman – The mechanism for the electronic submission of annual returns for funds licensed, registered and administered in the Cayman Islands is now in place. With it, electronic reporting for all funds regulated under Cayman’s Mutual Funds Law has begun.
Following successful industry testing, CIMA released on its website the electronic Fund Annual Return (FAR) form and has opened the internet portal through which funds’ local auditors will submit the required returns. Related guidance notes have also been released. The FAR and each fund’s audited accounts are to be submitted to CIMA through the local auditors within six months of the fund’s financial year-end, beginning with those funds that have a year-end date on or after 27 December 2006.
