The Authority issued Notices on 6 June, 2019, and 12 June, 2019 whereby it notified all persons currently registered as excluded persons under the Securities Investment Business Law (2019 Revision) (“SIBL EPs”) of their obligation to file AML/CFT Reporting Forms (AIR157-75 and ARC-158-75). These forms are required to be filed pursuant to regulation 53A of the Anti-Money Laundering (Amendment) Regulations, 2019.
The Authority is hereby extending the deadline for filing the AML/CFT Reporting Forms to 15 August 2019. This is to alleviate any confusion with the transition date set out in the recently passed (but not yet in force) Securities Investment Business (Amendment) Law, 2019 (“SIB Amendment Law”). However, all SIBL EPs are encouraged to file as soon as practicable.
The AML/CFT Reporting Forms are accessible on the Regulatory Enhanced Electronic Forms Submission (REEFS) portal (https://reefs.cimaconnect.com) as follows:
|Form Code||Form Description|
|AIR-157-75||AML/CFT Inherent Risk - Securities|
|ARC-158-75||AML/CFT Risk Controls - Securities|
The Authority thanks you in advance for your cooperation in continuing to ensure that the jurisdiction remains compliant with international AML/CFT standards.
When the SIB Amendment Law is assented to, the Authority will have supervisory powers over entities currently known as SIBL EPs (which are exempted from licensing requirements).1
In accordance with the transitional provisions under the SIB Amendment Law, all SIBL EPs that wish to continue to carry on business in or from within the Cayman Islands may apply to be re-registered as a “registered person” under the SIB Amendment Law (“Registered Person”).
In order to re-register under the SIB Amendment Law, SIBL EPs must provide such information as the Authority may request by 15 August 2019, and complete the reregistration process, by filing an “Application to Re-Register under SIBL as a Registered Person” Form RRP-160-75 (the “Application”) via the Regulatory Enhanced Electronic Forms Submission (REEFS) portal (https://reefs.cimaconnect.com), by 15 January 2020.
The name and description of the Application to be filed via the REEFS portal is outlined below:
|Form Code||Form Description|
|RRP-160-75||Application to Re-Register under SIBL as a Registered Person|
Re-registration is subject to the applicant:
Completion guides for the Application and AML/CFT Reporting Forms can be found at https://www.cima.ky/reefs-forms-guidance-notes.
Queries relating to the completion of the Application and AML/CFT Reporting Forms can be sent to email@example.com.
For more information in relation to the SIB Amendment Law and the application process, please refer to the full text of the SIB Amendment Law available on the Authority’s website www.cima.ky as well as the frequently asked questions available at https://www.cima.ky/securities-faqs.
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