Daily Compliance News: April 7, 2025, The Whistleblowers Awarded Edition
All financial service providers are encouraged by the Cayman Islands Monetary Authority (CIMA) to prepare for the Fifth Round Mutual Evaluation (Evaluation) of the Cayman Islands by the Financial Action Task Force (FATF). ...more
The global regulatory landscape for virtual asset service providers (VASPs) is changing faster than ever. With regulators sharpening their focus on anti-money laundering and counter-terrorist financing obligations, the...more
Associating the Cayman Islands with money laundering has been a staple of film and television, from "The Firm" in the 1990s to, more recently, "Better Call Saul." However, scriptwriters may need to find another location...more
As the EU removes the Cayman Islands from the EU AML/CFT blacklist with effect from 7 February 2024, concerns and barriers for EU sell- and buy-side parties on securitisations involving Cayman SSPEs fall away....more
The Cayman Islands recently received an early Holiday gift when the EU Commission published a regulation in mid-December paving the way to remove Cayman from its list of ‘high-risk’ countries for AML/CFT purposes. The...more
The Financial Action Task Force last Friday announced that it was removing the Cayman Islands from its ‘Grey List’ for increased monitoring in AML matters. This listing has had no direct impact on the fund finance world...more
Following the conclusion of the most recent plenary of the Financial Action Task Force ("FATF") on 27 October 2023, the FATF has announced that the Cayman Islands has been removed from the FATF's list of "jurisdictions under...more
Approaches and developments - The Cayman Islands has long been a leading offshore jurisdiction for investment funds, as well as a significant global financial centre overall. It is therefore not surprising that, reflecting...more
Following the conclusion of the most recent plenary of the Financial Action Task Force ("FATF") on 23 June 2023, the FATF has announced that it has made the initial determination that the Cayman Islands has substantively...more
On February 21, 2022, Commission Delegated Regulation was published in the Official Journal of the European Union which will add the Cayman Islands to the list of countries that have been identified by the European Commission...more