by marco martins | Mar 14, 2024 | Regulatory
In March 2024, the Cayman Islands Government gazetted the Companies (Amendment) Act, 2024 (“2024 Amendment Act”), which, once brought into full effect, will further modernize the Companies Act by enabling companies to do the following: Reduce its share capital. The...
by marco martins | Feb 7, 2024 | Regulatory
On January 18, the European Union published Regulation 2024/163 in the Official Journal of the EU (Regulation). The Regulation removes the Cayman Islands from the list of high-risk jurisdictions (EU AML List). The Regulation was adopted on December 12, 2023, and came...
by marco martins | Feb 5, 2024 | Regulatory
Consolidated Supervision of Banks In November of 2023 CIMA (CIMA or Authority) published its Regulatory Policy on Consolidated Supervision (Policy) in relation to regulated entities, and in particular, banks that are part of a group encompassing entities regulated...
by marco martins | Jan 3, 2024 | Regulatory
On 29 December 2023, CIMA published the supervisory circular describing how it monitors AML/CFT remediation by financial service providers (“FSPs”) and sets out the key elements of a successful remediation plan. FSPs may use this publication to strengthen their...
