Mr Nick Rogers

Nick Rogers

Updates

Corporate Finance/M&A

Deadline extended for first filing of audited accounts and associated FAR form by private funds
Cayman Islands | 26 May 2021

The Cayman Islands Monetary Authority recently issued an industry notice regarding fund annual return (FAR) filings for private funds registered under the Private Funds Act (Revised) (private funds). The notice confirms that the deadline for the first filing of audited accounts and the associated FAR form by all private funds has been extended to 30 September 2021.

Snapshot: private fund registration – what have we learnt?
Cayman Islands | 13 January 2021

For the best part of 20 years, private equity sponsors and their global advisers have been attracted by the Cayman Islands' neutrality, efficiency, quality and flexibility – but also by its predictability. So, when the Cayman Islands announced in early 2020 that all Cayman-domiciled closed-ended funds (including private equity and real estate funds) would be required to register with the Cayman Islands Monetary Authority by August 2020, this seemed like a shake-up.

New registration requirements for unregulated investment funds
Cayman Islands | 12 February 2020

The government recently approved the Private Funds Bill 2020 and an amendment to the Mutual Funds Law (2020 Revision). The legislation is the result of certain EU and other international recommendations and has been developed to align the Cayman Islands investment fund regulatory regime with those of other jurisdictions. This article summarises the key features of both pieces of legislation.

Litigation

Grand Court examines master-feeder redemption procedures
Cayman Islands | 16 October 2018

A recent Grand Court decision is significant for Cayman master-feeder fund structures. Funds and their advisers should review the redemption provisions in master fund articles of association and partnership agreements to ensure that, operationally, redemptions are being effected in accordance with such documents.

Private Client & Offshore Services

Deadline extended for first filing of audited accounts and associated FAR form by private funds
Cayman Islands | 20 May 2021

The Cayman Islands Monetary Authority recently issued an industry notice regarding fund annual return (FAR) filings for private funds registered under the Private Funds Act (Revised) (private funds). The notice confirms that the deadline for the first filing of audited accounts and the associated FAR form by all private funds has been extended to 30 September 2021.

Snapshot: private fund registration – what have we learnt?
Cayman Islands | 07 January 2021

For the best part of 20 years, private equity sponsors and their global advisers have been attracted by the Cayman Islands' neutrality, efficiency, quality and flexibility – but also by its predictability. So, when the Cayman Islands announced in early 2020 that all Cayman-domiciled closed-ended funds (including private equity and real estate funds) would be required to register with the Cayman Islands Monetary Authority by August 2020, this seemed like a shake-up.

New registration requirements for unregulated investment funds
Cayman Islands | 06 February 2020

The government recently approved the Private Funds Bill 2020 and an amendment to the Mutual Funds Law (2020 Revision). The legislation is the result of certain EU and other international recommendations and has been developed to align the Cayman Islands investment fund regulatory regime with those of other jurisdictions. This article summarises the key features of both pieces of legislation.

Cayman Islands economic substance requirements
Cayman Islands | 11 April 2019

New legislation recently came into force in the Cayman Islands requiring in-scope entities that carry on particular activities to have demonstrable economic substance in Cayman. Relevant entities must make an annual report as to whether they are carrying on one or more of a defined list of activities (relevant activities). If they are, they must satisfy an economic substance test in Cayman in respect of such relevant activities.

Grand Court examines master-feeder redemption procedures
Cayman Islands | 11 October 2018

A recent Grand Court decision is significant for Cayman master-feeder fund structures. Funds and their advisers should review the redemption provisions in master fund articles of association and partnership agreements to ensure that, operationally, redemptions are being effected in accordance with such documents.