The objective of our Supervisory Information Circulars is to raise industry awareness of common regulatory and thematic issues identified through both our off-site and on-site supervisory practices and highlight important regulatory developments for the financial services sector.
Complaints-handling and Regulatory Expectations
This Circular sets out how REs should implement and embed effective complaints-handling policies/procedures within their organizat...
Read More View PDFCIMA Regulatory Update: June 2023 to December 2023
This update reports on legislative and regulatory activities at the Cayman Islands Monetary Authority for the period June 2023 to ...
Read More2023 Complaints Handling Survey Review
An overview of the 2023 Complaints Handling Survey conducted among seven deposit-taking institutions, aimed at evaluating their co...
Read More View PDFAML/CFT Remediation
This supervisory circular describes how the Cayman Islands Monetary Authority (“CIMA” or the “Authority”) monitors AML/CFT...
Read MoreNon-Face-to-Face Customer Due Diligence Measures
The Cayman Islands Monetary Authority (“the Authority”) has recently (August 2023) amended its Guidance Notes on the Preventio...
Read More2022 Review of TCSPs AMLR Compliance – Sanctions Screening
Trust and Corporate Services Providers (“TCSPs”) are of systemic importance to the global financial services industry. They ar...
Read MoreSupervisory Information Circular – Stress Testing for Insurers
Stress testing is a risk management technique used to evaluate the potential effects on an insurer’s financial condition of a se...
Read MoreClarifications to the Market Discipline Disclosure Requirements (Pillar 3) Rules and Guidelines
The Cayman Islands Monetary Authority (the “Authority”) is writing to provide interim clarifications in relation to the Market...
Read MoreDividend Payments and Distributions
Pursuant to section 6(2)(b) of the Monetary Authority Act (2020 Revision), one of the roles of the Cayman Islands Monetary Authori...
Read MoreKey Findings of Registered Persons from On-site Inspections
This circular sets out the findings by the Cayman Islands Monetary Authority (“CIMA” or “the Authority”) from on-site insp...
Read MoreClimate Change, Environmental, Social and Governance and Sustainability
With climate change accelerating both in frequency and in the intensity of extreme weather events, the Cayman Islands Monetary Aut...
Read More2021 Review of TCSPs Compliance with AMLRs - Sanctions Screening Policies and Procedures
Trust and Corporate Services Providers (“TCSPs”) use, establish and/or act for legal persons and arrangements on a regular bas...
Read MoreThird Party Reliance Testing for Agents/Nominees and Eligible Introducers
The Cayman Islands Monetary Authority (the “Authority”) reminds all regulated entities of their obligations in respect of the ...
Read MoreEnvironmental, Social and Governance and Sustainable Investing
The Cayman Islands Monetary Authority (“the Authority”), similar to other regulators in various jurisdictions around the globe...
Read More2021 Review of TCSPs Compliance with AMLRs - Customer Verification and Identity
Trust and Corporate Services Providers (“TCSPs”) use, establish and/or act for legal persons and arrangements on a regular bas...
Read MoreThematic Credit Review
The economic downturn brought on by the COVID-19 pandemic has had a varying impact globally.To assess the effect on the domestic l...
Read MoreSupervisory Issues and Information Circular - Climate Risk for Banking Sector
CIMA recognises that financial institutions, including banks, are exposed to climate-related financial risks regardless of their s...
Read More View PDFChanges to Business Plan
The Cayman Islands Monetary Authority (the “Authority”) is writing to remind licensees that each licensee shall only carry on ...
Read MoreProcedure for Licence Applications
The objective of this circular is to provide supplemental guidance to entities seeking to apply for a licence to operate in or fro...
Read MoreVASP Registration Reminder
Further to the commencement order that brought the Virtual Asset (Service Providers) Act, 2020 (the “VASP Act”) into effect
Read MoreRegistered Persons: Key Findings from On-site Inspections 2020
This Circular sets out the Cayman Islands Monetary Authority’s (the “Authority”) preliminary findings from on-site inspectio...
Read MoreAML/CFT Reporting Forms for VASPs
Further to the launch of the regulatory framework for the Virtual Asset (Service Providers) Law, 2020 on 31 October 2020
Read MoreVASP Registration/Notification Requirements
Further to the commencement order that brought the Virtual Asset (Service Providers) Law, 2020 (“the VASP Law”) into effect
Read MoreAdmin Fines - Sharing of Information
The Authority takes this opportunity to remind all readers of this circular that the Monetary Authority (Administrative Fines) (Am...
Read MoreCancellation Procedures for Regulated Private Funds
The ‘Cancellation of Licences issued pursuant to section 5 and Certificates of
Registration issued pursuant to Sections 4(3),
AML/CFT & Sanctions Onsite Inspections & Findings Pt 2
On-site inspections are fundamental to the effective execution of the Authority’s post-licensing regulatory and supervisory mand...
Read MoreGeneral Overview: Audit Firms, BEC Schemes, Board Proxies & Other
Various stakeholders, including clients, investors, shareholders and regulators, rely on audited financial
statements
AML/CFT & Sanctions Onsite Inspections & Findings Pt 1
The on-site inspection process is fundamental to the effective execution of the Authority’s post licensing regulatory and superv...
Read MoreBusiness Continuity and Disaster Preparedness
The 2017 hurricane season was by all accounts hyperactive and catastrophic, with 17 named storms, 10 became hurricanes including s...
Read MoreRequirements of the Financial Accounting Standards
During October 2017, the Cayman Islands Monetary Authority (the “Authority”) issued a Supervisory Issues and Information Circ...
Read More2017 AMLRs Key Changes, Outsourcing AML/CFT Operations & FASB Updates
The Anti-Money Laundering Regulations, 2017 (“AMLRs”) which replace the Money
Laundering Regulations (2015 Revision) ("MLR") w...
Onsite Inspections Findings, Licensees’ AML/CFT Supervisory Approach & Thematic Review
On-Site inspections and the use of ‘Requirements’ stemming from findings
Read MoreTCSPs Onsite Inspections Findings & Administrative Fine Regime
On-Site inspection Findings for licensed Trust and Corporate Services Providers
Read MoreCommon Regulatory and Thematic Issues Pt 2
We are pleased to share the second edition of the Cayman Islands Monetary Authority’s (the “Authority”) Supervisory Issues a...
Read MoreCommon Regulatory and Thematic Issues Pt 1
We are pleased to introduce the first edition of the Cayman Islands Monetary Authority’s (the “Authority”) Supervisory Issue...
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