Amended SIBL Excluded Person Registrations and Renewal Forms

The Cayman Islands Monetary Authority (the “Authority”) has updated the Application for SIB Excluded Persons form (APP-101-28-02) and the Renewal of a SIB Excluded Person form (APR-102-28-02) on the Authority’s Regulatory Enhanced Electronic Filing System (“REEFS”). Completion guides for each document can be found on the Authority’s website (https://www.cima.ky/reefs-forms-guidance-notes) and in the REEFS portal.

The updated forms now require an entity intending to register, or that is registered as an Excluded Person, pursuant to the Securities Investment Business Law (2015 Revision) (SIBL), to provide the following additional information: 

Application for SIB Excluded Persons form (Registration as an Excluded Person - APP-101-028-02)

• Registration date being requested;
• List of any previous names, if applicable;
• Copy of certificates relating to previous names where the entity’s name has been changed;
• Client list (to include both regulated and unregulated clients);
• Details of all Directors, Principals of the General Partner and Managing Members;
• Details of Senior Officers or Managers (excluding Money Laundering Reporting Officer, Deputy Money Laundering Reporting Officer and Anti-Money Laundering Compliance Officer); 
• Details of all Shareholders, who are natural persons, with a shareholding of 10% or more1 , accompanied by a Personal Questionnaire for each Shareholder;
• Details of all Corporate Shareholders, as well as the First and Last Names of each Ultimate Beneficial Owner (UBO) of the Corporate Shareholder, who owns 10% or more2 , accompanied by a Personal Questionnaire for each UBO;
• Register of Directors or equivalent register that reflects those who act in a similar capacity to a Director; 
• Register of Members/Shareholders/Managing Members or equivalent register that reflects all of the beneficial owners and any UBO’s of the Applicant.
• Organizational Chart, which should be a comprehensive chart in pictorial format, clearly outlining whether the Applicant operates as a single structure or has affiliates (both financial and non-financial) by way of common ownership. For each affiliate, the Applicant is required to provide the: (i) name of the entity; (ii) jurisdiction of incorporation; (iii) nature of business; and (iv) name of the Regulatory Body who has oversight of the Affiliate’s business, if applicable.
• Details of the natural person appointed as the Deputy Money Laundering Reporting Office, inclusive of curriculum vitae (CV); and
• Details of the natural person appointed as the Deputy Anti-Money Laundering Compliance Officer (D-AMLCO), inclusive of CV. Please note that the appointment of a D-AMLCO is optional.

New Registrations as at 1 January 2019 

For entities seeking to be registered as a SIB Excluded Person, as at 1 January 2019, but require more time in order to provide the additional information that is now required, such entity should advise the Authority of such by 31 January 2019.

Renewal as a SIB Excluded Person (APR-102-28-02) 

The renewal form requires additional information as outlined in paragraphs d) through m) above. 

As a reminder, submission of the 2019 Renewal Form is due to the Authority no later than 31 January 2019 for SIB Excluded Persons seeking to continue with their registration pursuant to the SIBL. Similar to new registrations, additional time in which to submit the Renewal Form will be considered by the Authority where such request is received prior to 31 January 2019.

Should you require further clarification on the completion of the revised forms, please liaise with a member of the Securities Supervision Division at contactsecurities@cimoney.com.ky.