Regulatory Handbook

The Monetary Authority's Regulatory Handbook is issued under section 48 of the Monetary Authority Law. The handbook details the structure and responsibilities of the Board of Directors and the Management Committee, the relationships that the Monetary Authority has with external bodies, and specific information on matters such as the supervisory approach, supervisory returns, and anti-money laundering procedures. This document provides a practical guide to the operations of the Monetary Authority and reflects transparency and accountability in the way the Monetary Authority regulates and makes decisions.

Regulatory Handbook - August 2017View

Regulatory Handbook Appendices - February 2017View

Given the dynamic nature of the financial services industry and the constant changes facing the Monetary Authority the handbook is subject to on-going review and revision. All revisions are gazetted and posted on the website. Hard copies of the handbook are available upon request from the Monetary Authority for a nominal fee.

Policies & Procedures

The policies and procedures of the Cayman Islands Monetary Authority ("the Authority") are set out in its Regulatory Handbook. These policies and procedures are to be followed by the Authority, its committees, and officers in performing the Authority's regulatory and co-operative functions. 

Definitions have also been adopted for the creation of new measures:

Regulatory Policy ("RPy") - a set of principles, a criteria, or approach to guide decisions and actions taken by the Authority in performing its regulatory and co-operative functions.

Regulatory Procedure ("RPr") - a set of actions, activities or tasks that the Authority will carry out in performing its regulatory and co-operative functions.

The following are deemed to form part of the Regulatory Handbook -

Policies:

Regulatory Policy - Restricted WordsView

Regulatory Policy - Recognised Overseas Regulatory AuthoritiesView

Regulatory Policy - Criteria for Approving Changes in Ownership and ControlView

Regulatory Policy - Recognition and Approval of Actuaries under the Insurance LawView

Regulatory Policy - Approval of Trusts pursuant to Section 7(1) Insurance LawView

Regulatory Policy - Exemption from Audit Requirement for a Mutual FundView

Regulatory Policy - Licensing BanksView

Regulatory Policy - Licensing and Approving Money Services BusinessView

Regulatory Policy - Approved Stock ExchangesView

Regulatory Policy - Fitness and ProprietyView

Regulatory Policy - Consolidated SupervisionView

Regulatory Policy - Approval of an Auditor for a Regulated InstitutionView

Regulatory Policy - Major Acquisition and Investments by BanksView

Regulatory Policy - Prudential Reports and Statistical ReturnsView

Regulatory Policy - Exemption from the Audit Requirement for a Class C Insurance CompanyView

Regulatory Policy - Licensing and Approving Money Services BusinessView

Procedures:

Regulatory Procedure - Assessing Fitness and ProprietyView

Regulatory Procedure - Approval and Notification of Changes-Class B, C and D Insurers and Portfolio Insurance CompaniesView

Regulatory Procedure - Issuing Notices of Decisions to Declined ApplicantsView

Regulatory Procedure - Mutual Funds and Mutual Fund Administrators Where Contact is LostView

Procedure - Complaints Against the AuthorityView

Regulatory Procedure - Cancellation of Mutual FundsView

Regulatory Procedure - Internal Capital ModelView

Regulatory Procedure - Publication of Enforcement Actions taken by the AuthorityView

Regulatory Procedure - Appointing Controllers and Advisors; and Auditors for AML Audits and Assessing Costs 2018View

Template - Assessing Controller CostsView

Enforcement:

Enforcement Manual 2018View

List of Approved Stock ExchangesView

Regulatory Policy – Approved Stock ExchangesView