Response to Court Decision on Maples Group’s Judicial Review

The Cayman Islands Monetary Authority (“CIMA”) acknowledges the recent Court ruling following Maples Group’s judicial review of CIMA’s interpretation and application of provisions within the Anti-Money Laundering Regulations.

Results of these proceedings emphasise the importance of the rule of law under which the Cayman Islands and CIMA are proudly governed.

As such, CIMA stands committed to its robust regulation of the entire financial services industry in line with international standards and ensuring that Cayman Islands’ financial service providers and designated non-financial service businesses and persons are in compliance with the required rules and regulations.

To further this objective, CIMA is currently reviewing the judgment along with our legal advisers and is considering all available options.

In its fight against money laundering and the preservation of financial stability, CIMA looks forward to continuing to work with all industry stakeholders, the Cayman Islands Government and other competent authorities to ensure that the jurisdiction remains a stable, secure and well-regulated environment in which to do financial business now and for many years to come.