Following the removal of the Cayman Islands from the FATF list of jurisdictions under increased monitoring, the Cayman Islands is to also be removed from the European Union list of jurisdictions with strategic deficiencies in their anti-money laundering and counter-financing of terrorism regimes ("EU AML List").

On 12 December 2023, the European Commission adopted the Commission Delegated Regulation (EU) of 12.12.2023 amending Delegated Regulation (EU) 2016/1675 (the "Regulation") which will remove the Cayman Islands from the EU AML List. The Regulation will enter into force on the twentieth day following that of its publication in the Official Journal of the European Union, which is expected later this month.

Additionally, as of 5 December, the UK Government has officially removed the Cayman Islands from its list of high-risk third countries for anti-money laundering and counter financing of terrorism and proliferation.

These are significant positive milestones in the jurisdiction's commitment to anti-money laundering, and counter financing of terrorism and proliferation.

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