Private Funds Act Compliance - Waystone

      Private Funds Act Compliance

      The Private Funds Act 2020 (“PF Act”) creates a regulatory regime for closed-end funds, such as private equity, venture capital, and private debt funds.

      What are the Requirements of the Private Funds Act 2020?

      Many of the requirements under the Cayman Private Funds law are similar to the existing requirements for open-ended funds, but there are some additional operational features contained in the PF Act which managers also need to address.

      All private funds, whether formed before or after the passage of the PF Act, must register with the Cayman Islands Monetary Authority (“CIMA”).

      Cayman Private Funds compliance in key jurisdictions

      Waystone works with a variety of institutional, private fund clients providing bespoke services in a number of key jurisdictions including the Cayman Islands, the US, and Europe. The unique characteristics associated with private fund structuring, and the challenges that present when operating cross-border, means that there are many needs for suitably-qualified, independent governance, risk, and compliance professionals, both onshore and offshore, including the following:

      Cayman Islands

      • Regulatory consulting and fund registration
      • Fund governance/investment committee
      • Corporate administration for SPVs
      • FATCA/CRS Reporting
      • AML Officers

      US

      • Conflicts committees
      • Independent fund representative
      • GP Services
      • Onshore governance
      • Fund governance/investment committee.

      Europe

      • Third-party AIFM
      • MIFID hosting for managed accounts
      • Corporate administration for SPVs
      • Capital raising

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      • Cayman Islands
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