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In June 2011, Premier McKeeva Bush announced a proposal to require new and existing master funds in open-ended master/feeder structures to register with the Cayman Islands Monetary Authority. Following a consultation period with industry and CIMA which lasted several months, the Mutual Funds (Amendment) Law 2011 came into effect on 22 December 2011. With the United States presidential elections coming up in less than a year, much of the news media is focusing on who will be the next president of the US for a good reason. A hedge fund seminar hosted by offshore law firm Walkers in New York in November brought together industry leaders to discuss key issues for investment funds in 2012.
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