It has been two years since the Cayman Islands Monetary Authority (CIMA) introduced its Rule on Corporate Governance for Regulated Entities (the “Corporate Governance Rule”), and a year and a half since it came into force....more
5/29/2025
/ Cayman Islands ,
CIMA ,
Compliance ,
Corporate Governance ,
Due Diligence ,
Fiduciary Duty ,
Investment Funds ,
Outsourcing ,
Policies and Procedures ,
Regulatory Agenda ,
Regulatory Oversight ,
Regulatory Requirements ,
Risk Management
Welcome to the first 2025 edition of our Regulatory & Risk Advisory Review. In this instalment, we provide a comprehensive overview of the latest regulatory developments to ensure you have the most up-to-date insights into...more
4/25/2025
/ AML/CFT ,
Anti-Money Laundering ,
Cayman Islands ,
CIMA ,
Compliance ,
Corporate Governance ,
FATF ,
Fees ,
Financial Institutions ,
Financial Services Industry ,
General Licenses ,
New Regulations ,
Regulatory Agenda ,
Regulatory Requirements ,
Risk Management
The Cayman Islands Government has taken a significant step in the regulation of virtual asset service providers (VASPs) with the commencement of the licensing regime under the Virtual Asset (Service Providers) Act (as...more
4/23/2025
/ Anti-Money Laundering ,
Cayman Islands ,
CIMA ,
Corporate Governance ,
Cryptocurrency ,
Digital Assets ,
FinTech ,
Licensing Rules ,
Regulatory Oversight ,
Regulatory Requirements ,
Risk Management ,
Trading Platforms ,
Virtual Currency
The Beneficial Ownership Transparency (Access Restriction) Regulations, 2024 (the “Access Restriction Regulations”) commenced on 28 February 2025 and will supplement the Beneficial Ownership regime in the Cayman Islands. The...more
The VASP Act defines “Virtual Assets” as digital representations of value that can be digitally traded or transferred and can be used for payment or investment purposes. Digital representations of fiat currencies (which is...more
3/5/2025
/ Anti-Money Laundering ,
Blockchain ,
Cayman Islands ,
CIMA ,
Corporate Governance ,
Cryptocurrency ,
Digital Assets ,
FATF ,
FinTech ,
Licensing Rules ,
Popular ,
Regulatory Requirements ,
Risk Management ,
Sandbox ,
Stablecoins ,
Trading Platforms
A warm welcome to this 12th edition of Conyers Coverage to kick off 2025. Now that the dust has settled, our team is reflecting on another exceptional year for the Cayman Islands (re)insurance industry in 2024. We lawyers may...more
2/4/2025
/ Anti-Money Laundering ,
Beneficial Owner ,
Business Ownership ,
Capital Requirements ,
Cayman Islands ,
CIMA ,
Commercial Litigation ,
Compliance ,
Corporate Governance ,
FATF ,
Insurance Industry ,
Jurisdiction ,
NAIC ,
New Regulations ,
Private Equity ,
Regulatory Agenda ,
Regulatory Reform ,
Regulatory Requirements ,
Reinsurance ,
Risk Management ,
Segregated Portfolio Companies
The Cayman Islands Monetary Authority (“CIMA”) has issued a new Rule and Statement of Guidance on the obligations for the provision of virtual asset services – Virtual Asset Custodians and Trading Platforms (the “Rule”). With...more
1/13/2025
/ Cayman Islands ,
CIMA ,
Compliance ,
Corporate Governance ,
Cryptocurrency ,
Cybersecurity ,
Digital Assets ,
Enforcement Actions ,
Regulatory Requirements ,
Reporting Requirements ,
Risk Management
The Financial Services Institute in collaboration with Conyers, Grant Thornton and the Cayman Islands Monetary Authority (CIMA) hosted a comprehensive and in-depth seminar on “Corporate Governance & Risk Management for Cayman...more
There are a variety of information gathering and other compulsory notices available to regulatory and enforcement agencies based in the Cayman Islands, as tools these agencies can draw on to carry out their functions. In this...more
11/4/2024
/ Cayman Islands ,
CIMA ,
Commercial Litigation ,
Compliance ,
Corporate Governance ,
Corporate Restructuring ,
Disclosure Requirements ,
Dispute Resolution ,
Enforcement Authority ,
Insolvency ,
Internal Investigations ,
Policies and Procedures ,
Regulatory Authority ,
Regulatory Requirements ,
Risk Management ,
Stakeholder Engagement ,
Trusts
In recent years, the virtual asset industry has experienced exponential growth, bringing about innovations in digital payments, tokenisation and decentralised finance (Defi). While highly innovative, the volatile nature of...more
10/3/2024
/ Blockchain ,
Cayman Islands ,
Corporate Governance ,
Crisis Management ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Digital Assets ,
Digital Service Providers ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Internal Controls ,
Popular ,
Regulatory Oversight ,
Risk Management ,
Tokenization ,
Trading Platforms ,
Transparency ,
Virtual Currency
As the global financial landscape continues to evolve, the rapid growth of virtual assets and use of blockchain technology has prompted governments worldwide to reassess their legal and regulatory frameworks. The emergence of...more
10/2/2024
/ AML/CFT ,
Blockchain ,
Cayman Islands ,
CIMA ,
Cryptocurrency ,
Digital Assets ,
Digital Service Providers ,
FinTech ,
Innovative Technology ,
Regulatory Agenda ,
Regulatory Requirements ,
Risk Management ,
Technology
The Financial Services Institute in collaboration with Conyers, Grant Thornton and Cayman Finance hosted its fourth comprehensive training seminar on “Preparing for an Onsite Inspection from the Cayman Islands Monetary...more
5/24/2024
/ Business Entities ,
Cayman Islands ,
CIMA ,
Corporate Governance ,
Corporate Investigations ,
Corporate Management ,
Financial Regulatory Reform ,
Financial Services Industry ,
Inspections ,
Policies and Procedures ,
Popular ,
Regulatory Agenda ,
Regulatory Oversight ,
Risk Management ,
Strategic Planning