On 30 August 2023, following industry consultation, the Cayman Islands Monetary Authority ("CIMA") issued a new Rule and Statement of Guidance on Nature, Accessibility and Retention of Records for Licensees Conducting the...more
Following industry consultation, on 30 August 2023 the Cayman Islands Monetary Authority ("CIMA") issued updated Guidance Notes on the Prevention and Detection of Money Laundering, Terrorist Financing and Proliferation...more
9/15/2023
/ AML/CFT ,
Anti-Fraud Provisions ,
Anti-Money Laundering ,
Cayman Islands ,
CIMA ,
Cybersecurity ,
Due Diligence ,
Financial Services Industry ,
Guidance Update ,
Money Laundering ,
Policies and Procedures ,
Recordkeeping Requirements ,
Risk Assessment ,
Selfies ,
Videoconference
Walkers' regulatory partners Lucy Frew and Ian Mason consider the learning points for financial services providers (FSPs) from recent enforcement actions by Cayman regulatory bodies.
While financial services and related...more
8/7/2023
/ AML/CFT ,
Anti-Money Laundering ,
Banks ,
Beneficial Owner ,
Cayman Islands ,
CIMA ,
Due Diligence ,
Employee Training ,
Enforcement Actions ,
FATCA ,
Financial Regulatory Agencies ,
Financial Services Industry ,
FinTech ,
Insurance Industry ,
Internal Reporting ,
Investment Funds ,
Recordkeeping Requirements ,
Securities