List of Fraudulent Websites Enforcement
CIMA has a range of enforcement tools available to help it meet its regulatory objectives. Where a licensee has failed to comply with the legislative requirements, it will often be appropriate to address this without further need for formal disciplinary or other enforcement action.
CIMA has issued guidelines on the steps that it will follow in the event of non-compliance by the licensee. The compliance procedure can be found under Section 6 of the Enforcement Manual. This document describes the policies and procedures for the exercise of the enforcement actions available to CIMA in the event of non-compliance with the regulatory laws.
Investigating serious breaches of the regulatory laws, collecting pertinent information and documentation, and recommending enforcement actions are the responsibility of CIMA's Compliance Division.
In circumstances where CIMA takes formal enforcement action because the licensee contravenes the regulatory laws, the effective use of the enforcement powers will play an important role in supporting CIMA’s pursuit of its regulatory objectives. CIMA will seek to ensure the fair treatment of those who are subject to the exercise of its enforcement powers.
CIMA has also become aware of entities with websites that have given their contact addresses as being in the Cayman Islands. The entities listed in the document below are not licensed or registered to carry on activities regulated by CIMA. Our inquiries also reveal that they are also not registered with the Cayman Islands Companies Registry.
CIMA would encourage people receiving any form of approach from these purported entities not to respond to them in any way.