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Article: The Cayman Islands Approach to the Regulation of Mutual Funds.
- Article from:
- Mondaq Business Briefing
- Article date:
- May 14, 2003
CopyrightCOPYRIGHT 2003 Mondaq Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Mutual Funds Law (1996 Revision)
The motivation behind the introduction of the Mutual Funds legislation in 1993 was to follow through the recommendations of the Gallagher Report which stated that the Cayman Islands were in the forefront of the regulation of their financial industry and the operation of mutual funds was an area that had not been subject to regulation by any suitable authority. Accordingly, in recognition of the need to ensure the measured supervision of mutual funds, it was appropriate to introduce legislation to provide a framework for the regulation of all mutual funds, unless specifically exempt, and mutual fund administrators. In July 1993 The ...