Daily Compliance News: April 7, 2025, The Whistleblowers Awarded Edition
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
With effect from 1 April 2025, the licensing regime under the VASP Act will be implemented, requiring those providing virtual asset custody services or operating virtual asset trading platforms to obtain a licence under the...more
Legislation in the Cayman Islands concerning beneficial ownership information continues to develop at a steady pace and the latest developments are particularly noteworthy. The Parliament of the Cayman Islands has recently...more
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
Amendments to the Cayman Islands Proceeds of Crime Act came into effect on 2 January 2025 and include revisions to the suspicious activity report (SAR) process to the Financial Reporting Authority (FRA). In addition to a...more
What is the Travel Rule? The virtual asset “Travel Rule”, formally known as the “Financial Action Task Force (FATF) Recommendation 16”, requires Virtual Asset Service Providers (VASPs) to share and hold specific customer...more
Conducting an independent AML audit at a frequency based on the nature, scale and complexity of the entity is a requirement under the AML Regulations. AML audits are an important component of the control environment to...more
How does the beneficial ownership reporting regime developments impact those within the fund governance function? Introduction - As noted in our recent advisory, the Cayman Islands' beneficial ownership reporting...more
The Cayman Islands recently introduced measures to further improve its technical compliance with the 40 Financial Action Task Force (“FATF”) recommendations relating to anti-money laundering and countering the financing of...more
We are pleased to bring you the summer 2022 edition of Conyers Coverage, the Cayman Islands insurance newsletter. The Cayman Islands insurance and reinsurance industry has had a strong start to the year and Conyers is...more
The Cayman Islands has further improved its technical compliance with the 40 Financial Action Task Force (FATF) Recommendations relating to anti-money laundering and countering the financing of terrorism (AML/CFT)....more
New law imposes registration and compliance obligations on private funds that carry on business in or from the Cayman Islands. Absent an exemption, all private funds that carry on business in or from the Cayman Islands will...more