The Insurance Act amendment is intended to strengthen the Cayman Islands’ position in international reinsurance and domestic insurance. The Public Recorder Act amendment is part of Government’s initiative to ease senior citizens’ financial burdens.
The Cayman Islands Parliament passed both Acts on 8 June, during its First Sitting of the Third Meeting of the 2021-2022 Session. His Excellency the Governor assented to both Acts on 24 June.
More information on the legislation is here.
Seven amendment Bills, proposed to strengthen the Cayman Islands Monetary Authority’s (CIMA) powers to apply proportionate and dissuasive sanctions to all types of legal persons within its supervision, were published on 27 March in The Cayman Islands Gazette.
The Cayman Islands is pleased that the FATF has duly noted our continuous progress toward completing the final recommended action regarding investigations and prosecutions of money laundering cases.
The Accountants (Amendment) Act, 2022, and two regulations that support its provisions; and The Accountants (Quality Assurance) (Amendment) Regulations, 2023, will come into effect tomorrow (Wednesday, 1 February 2023).
Marking a historic moment, the Cayman Islands Government’s office in Washington, DC, was opened officially on Thursday, 26 January, by the Ministry of Financial Services and Commerce.