We have been monitoring a number of news reports that state that the Cayman Islands Monetary Authority (“CIMA”) is planning to require the disclosure of more information about Cayman hedge funds. Reports indicate that such data could include disclosing the identities of the fund’s:

• director
• investment manager
• auditor
• administrator

It is not clear yet if this means some sort of public disclosure or a disclosure upon specific inquiry with CIMA. The same reports indicate that in the future, Cayman hedge funds may also be required to disclose financial information on some periodic basis (such as monthly or quarterly). Although there are not any formal announcements as of yet, we do know that CIMA is soliciting feedback on this proposal.

RELATED: The Hedge Fund Law Blog discusses issues related to starting a hedge fund in the Cayman Islands.