For a better experience on Cayman Islands Monetary Authority, update your browser.
Weather90 °F
Cayman Islands Monetary Authority
PO Box 10052, 80 Shedden Road
Elizabethan Square,
Grand Cayman KY1 - 1001
CAYMAN ISLANDS

Call Us On

+1 (345) 949-7089

Business Hours

Mon - Fri: 8.30 AM - 5.00 PM

Money Services Business Regulatory Measures

Section 34 of the Monetary Authority Law enables the Authority to issue or amend Rules, Statements of Guidance and Statements of Principle. In addition, Section 48 provides for the issuance of a Regulatory Handbook to contain the policies and procedures of the Authority in carrying out its regulatory and co-operative functions.

Below is an index of measures that contains a checklist for RulesStatements of GuidanceRegulatory PoliciesRegulatory Procedures and Forms that pertain to the Money Services Business sector.


Rules

A clear and precise directive issued to licensees on a subject matter that the Authority considers essential for the prudential supervision of regulated entities and which creates binding obligations on all licensees and for which a breach may lead to the imposition of a fine or regulatory action being taken against the licensee by the Authority pursuant to the exercise of its powers under the regulatory laws.

Statement of Guidance ("SOG") 

Guidance intended to assist licensees to comply with relevant laws, regulations, rules and statements of principles or to describe standards for conduct of business. Guidance contains recommendations on how licensees should operate and represent a measure against which the Authority will assess compliance by licensees.

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 Policy ("RPy")

A set of actions, activities or tasks that the Authority will carry out in performing its regulatory and co-operative functions.

LEGISLATION  click for link
  Rule SOG Policy Procedure Form
LICENSING          
Regulatory Policy - Licensing and Approving Money Services Business     View    
Fitness and Propriety     View View View

Consolidated Supervision

    View    

Issuing notices of decisions to declined applicants

      View  

 Approval of an auditor

    View    

Regulatory Policy - Criteria for Approving Changes in Ownership and Control

    View    
           
BUSINESS CONDUCT          
Outsourcing – Regulated Entities   View      

 Corporate Governance

  View      

 Nature, accessibility and retention of records

  View      

 Use of The Internet

  View      

 Marketing Policies of Licensees

  View      

 Internal Controls

View        

 Business Continuity Management

  View      
           

 REPORTING

         
Prudential Reports and Statistical Returns     View View  
MSB Survey         View
           
Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT)   View     View