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Regulatory Blog

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CIMA publishes new AML surveys for securities registered and licensed persons and virtual asset services providers – 7 October deadline
The Cayman Islands Monetary Authority has started to publish its latest anti-money laundering surveys for entities that they regulate (not including investment funds). The surveys will be issued in stages and the first have just been sent to financial service providers that carry out securities investment business or virtual asset services business. The surveys are accompanied by guidance on their completion and submission.
Cayman Islands government publishes consultation on amendments to the Monetary Authority Act and other key regulatory laws
On 20 July 2022, the Cayman government circulated a consultation note, requesting feedback on the proposal to amend the Monetary Authority Act (2020 Revision) and specific regulatory laws.
No additional AML-CFT measures for Cayman
The European Union has confirmed to the Minister of Financial Services and Commerce of the Cayman Islands government that the EU does not require further measures, beyond those included in the Financial Action Task Force action plan, to remove the Cayman Islands from the EU's anti-money laundering and countering the financing of terrorism list.
CIMA updates its FAQs on VASP registration process
The Cayman Islands Monetary Authority (CIMA) issued a Notice on 2 May 2022 providing an update to the FAQs relating to the Virtual Asset Service Provider (VASP) registration process to assist industry with improving the completeness and quality of VASPs applications submitted to CIMA.
Environmental, Social and Governance considerations continue to evolve
On 13 April 2022, the Cayman Islands Monetary Authority issued an information circular on Environmental, Social and Governance given the global demand for investments with strong ESG credentials.
CIMA updates on VASP registrations
The Cayman Islands Monetary Authority (CIMA) has published guidance to assist with application under the VASP regime.
CIMA reviews cancellation procedures for registered private funds
The Cayman Islands Monetary Authority (CIMA) is revising the cancellation procedures for private funds following the industry consultation in June 2021. Therefore, a private fund seeking to cancel its certificate of registration should continue to apply the policy and procedure for the cancellation of registration applicable to mutual funds.
Considerations on regulatory inspections in BVI and Cayman
Regulatory inspections have become increasingly important in ensuring that there is an ecosystem for managed growth of businesses in the global financial services industry.
Fund annual return form – deadline extended
A reminder that all private funds registered with the Cayman Islands Monetary Authority (CIMA) must submit a fund annual return (FAR) form.
Cayman Islands: Terminating an entity before 2022 fees are due
Cayman Islands entities will be receiving their annual invoices for 2022 registration fees in the last quarter of 2021. If you are considering terminating your entity or terminating its registration with the Cayman Islands Monetary Authority (CIMA) you will need to act promptly in order to avoid or reduce the 2022 registration fees and filings.
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