The Cayman Islands Government has passed the Securities Investment Business Law, 2019.  The updated law will bring changes to the regulatory and supervisory framework to these entities that are currently registered as "excluded persons" with the Cayman Islands Monetary Authority.  This will impact Cayman Islands fund managers that are currently registered as Excluded Persons and will require them to re-register as Registered Persons by January 15, 2020 to maintain their current status with the Cayman Islands Monetary Authority.  Please refer to the updated Law.