Update: CIMA regulated fund filings

The Cayman Islands Monetary Authority (CIMA) released a General Industry Notice in early September outlining a known system issue affecting the filing of audited financial statements and the fund annual return (FAR) form for registered mutual and private funds with the financial year ending 31 December 2022.

The Notice confirms that any such funds which are ready to file their 2022 audited financial statements and FAR but are unable to do so as a result of the system issue, will not be subject to late filing penalties. The filing rows for affected funds will be made available up until 30 September 2023.

Funds with financial year ends falling subsequent to 31 December 2022 are still obligated to file their audited financial statements and FAR within six months of the applicable financial year end or submit an extension request with the requisite fee.