Amendment Bills to Strengthen CIMA’s AML Enforcement, Information Sharing Passed in Parliament

Amendment Bills to Strengthen CIMA’s AML Enforcement, Information Sharing Passed in Parliament

The Bills, presented by the Minister for Financial Services and Commerce, the Hon. André Ebanks, were: Monetary Authority (Amendment) Bill, 2023; Companies Management (Amendment) Bill, 2023; Directors Registration and Licensing (Amendment) Bill, 2023; Insurance...
Amendments Proposed to Strengthen CIMA’s AML Enforcement, Information Sharing

Amendments Proposed to Strengthen CIMA’s AML Enforcement, Information Sharing

The Bills are: Monetary Authority (Amendment) Bill, 2023; Companies Management (Amendment) Bill, 2023; Directors Registration and Licensing (Amendment) Bill, 2023; Insurance (Amendment) Bill, 2023; Money Services (Amendment) Bill, 2023; Securities Investment Business...
Virtual Asset Enforcement Provisions Commenced

Virtual Asset Enforcement Provisions Commenced

The commencement order was published on 28 October 2020.   These enforcement provisions allow the Cayman Islands Monetary Authority (CIMA) to take action where a person breaches certain provisions of the VASP Act.   For more information, email CIMA at...
Government Enhances Legislation for Exempted Limited Partnerships

Government Enhances Legislation for Exempted Limited Partnerships

The Cayman Islands Government is boosting the regulatory framework for financial services in the jurisdiction through legislation pertaining to exempted limited partnerships. The Exempted Limited Partnership (Amendment) Regulations, 2020 was gazetted on Friday, 22 May...
Financial Services Update

Financial Services Update

Industry is advised that the Ministry of Financial Services is addressing a number of matters in the coming days as part of its business continuity plans in the face of the coronavirus (COVID-19) pandemic. Virtual Assets and Administrative Fines Consultations Extended...