The Cayman Islands will amend a 2011 law to clarify that master funds will now have to register if they have even one Cayman regulated feeder fund. This registration will have to take place with the Cayman Islands Monetary Authority.
Previously, the Neutral Funds Law that was effective in December 2011, stated that, if there was only one feeder fund, no registration was required. However, the Cayman Islands Government and its Monetary Authority determined that registration would be required. As such, the legislation was to have been reviewed in March 2012, and likely approved shortly thereafter.