External Cooperation and Assessments
An integral part of CIMA's work is its interaction with regulatory, standard-setting and other relevant bodies within and outside of the Cayman Islands. Such involvement is necessary for CIMA to carry out its functions and fulfill its obligations under the Monetary Authority Act and other regulatory acts.
CIMA's external involvement encompasses the exchange of information and other assistance with overseas and local regulatory authorities, the negotiation of memoranda of understanding (MOUs) and similar agreements to facilitate that external assistance, participation in international bodies and initiatives. For more details on this aspect of CIMA's work, see International Cooperation.
In addition, CIMA facilitates assessments of the Cayman Islands' financial services regulatory regime by international agencies, including the International Monetary Fund (IMF) and Caribbean Financial Action Task Force (CFATF). For information on these assessments and to view the reports, see External Assessments.