{"id":8001,"date":"2023-05-10T15:48:36","date_gmt":"2023-05-10T20:48:36","guid":{"rendered":"https:\/\/www.campbellslegal.com\/?p=8001"},"modified":"2023-05-10T15:48:36","modified_gmt":"2023-05-10T20:48:36","slug":"updated-rules-and-statement-of-guidance-on-corporate-governance-for-mutual-funds-and-private-funds","status":"publish","type":"post","link":"https:\/\/www.campbellslegal.com\/client-advisory\/updated-rules-and-statement-of-guidance-on-corporate-governance-for-mutual-funds-and-private-funds-8001\/","title":{"rendered":"Updated Rules and Statement of Guidance on Corporate Governance for Mutual Funds and Private Funds"},"content":{"rendered":"
In April 2023, the Cayman Islands Monetary Authority (\u201cCIMA<\/strong>\u201d) issued a new Statement of Guidance on Corporate Governance for Mutual Funds and Private Funds (\u201cSOG<\/strong>\u201d) and Rule on Corporate Governance for Regulated Entities (\u201cRule<\/strong>\u201d).\u00a0 The Rule and SOG will replace the existing corporate governance regulatory measures.<\/p>\n CIMA reviewed the corporate governance supervisory and regulatory framework to identify and implement areas for enhancement based on the following:<\/p>\n Following such review, CIMA issued a new Rule on Corporate Governance for Regulated Entities which will be applicable to all entities regulated by CIMA and an industry-specific SOG on Corporate Governance for Mutual Funds and Private Funds.<\/p>\n The substantive changes between the prior Statement of Guidance on Corporate Governance for Regulated Mutual Funds and the new SOG are as follows (many of which will have already been considered by operators of regulated funds):<\/p>\nBackground<\/strong><\/h3>\n
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New Rule<\/strong><\/h3>\n
New SOG<\/strong><\/h3>\n