The Beneficial Ownership Transparency Act, 2023 (the “BOT Act”) is now in force. The BOT Act was gazetted in December 2023 and was brought into force on 31 July 2024 by the BOT Act Commencement Order. The new Beneficial...more
8/29/2024
/ AML/CFT ,
Anti-Money Laundering ,
Beneficial Owner ,
Cayman Islands ,
CIMA ,
Corporate Governance ,
EU Transparency Directive ,
Financial Regulatory Agencies ,
Financial Regulatory Reform ,
Legislative Agendas ,
Regulatory Agenda
The Cayman Islands is now set to be removed from the EU anti-money laundering (AML) list. This action follows the decision of the Financial Action Task Force (FATF) monitoring group on 27 October 2023 and subsequent removal...more
2/9/2024
/ Anti-Money Laundering ,
Cayman Islands ,
Due Diligence ,
EU ,
FATF ,
Financial Institutions ,
Foreign Corporations ,
High-Risk Countries ,
Listing Rules ,
Regulatory Agenda ,
Regulatory Oversight ,
UK
Oct 2023 This decision was announced on 27 October at the closing of the FATF’s plenary meetings in Paris, France. The FATF announcement confirmed that the Cayman Islands maintains a robust and effective anti-money...more
11/8/2023
/ AML/CFT ,
Anti-Money Laundering ,
Anti-Terrorism Financing ,
Beneficial Owner ,
Cayman Islands ,
Corporate Governance ,
Enforcement Actions ,
EU ,
FATF ,
Regulatory Agenda ,
Regulatory Requirements ,
Reporting Requirements
The Cayman Islands Monetary Authority (CIMA) recently issued a new Statement of Guidance for Mutual Funds and Private Funds (Corporate Governance Guidance) which:
- updates the current guidance applicable to funds...more
8/8/2023
/ Anti-Money Laundering ,
Cayman Islands ,
CIMA ,
Conflicts of Interest ,
Corporate Governance ,
Fund Managers ,
Investment Funds ,
Mutual Funds ,
Regulatory Agenda ,
Regulatory Oversight ,
Regulatory Requirements ,
Required Documentation ,
Risk Management