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Supervisory Information Circulars

The objective of our Supervisory Information Circulars is to raise industry awareness of common regulatory and thematic issues identified through both our off-site and on-site supervisory practices and highlight important regulatory developments for the financial services sector. 

13 March 2024

2023 Complaints Handling Survey Review

An overview of the 2023 Complaints Handling Survey conducted among seven deposit-taking institutions, aimed at evaluating their co...

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29 December 2023

AML/CFT Remediation

This supervisory circular describes how the Cayman Islands Monetary Authority (“CIMA” or the “Authority”) monitors AML/CFT...

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09 November 2023

Non-Face-to-Face Customer Due Diligence Measures

The Cayman Islands Monetary Authority (“the Authority”) has recently (August 2023) amended its Guidance Notes on the Preventio...

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27 July 2023

2022 Review of TCSPs AMLR Compliance – Sanctions Screening

Trust and Corporate Services Providers (“TCSPs”) are of systemic importance to the global financial services industry. They ar...

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28 June 2023

Supervisory Information Circular – Stress Testing for Insurers

Stress testing is a risk management technique used to evaluate the potential effects on an insurer’s financial condition of a se...

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02 August 2022

Clarifications to the Market Discipline Disclosure Requirements (Pillar 3) Rules and Guidelines

The Cayman Islands Monetary Authority (the “Authority”) is writing to provide interim clarifications in relation to the Market...

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28 July 2022

Dividend Payments and Distributions

Pursuant to section 6(2)(b) of the Monetary Authority Act (2020 Revision), one of the roles of the Cayman Islands Monetary Authori...

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12 July 2022

Key Findings of Registered Persons from On-site Inspections

This circular sets out the findings by the Cayman Islands Monetary Authority (“CIMA” or “the Authority”) from on-site insp...

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11 July 2022

Climate Change, Environmental, Social and Governance and Sustainability

With climate change accelerating both in frequency and in the intensity of extreme weather events, the Cayman Islands Monetary Aut...

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17 June 2022

2021 Review of TCSPs Compliance with AMLRs - Sanctions Screening Policies and Procedures

Trust and Corporate Services Providers (“TCSPs”) use, establish and/or act for legal persons and arrangements on a regular bas...

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19 May 2022

Third Party Reliance Testing for Agents/Nominees and Eligible Introducers

The Cayman Islands Monetary Authority (the “Authority”) reminds all regulated entities of their obligations in respect of the ...

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13 April 2022

Environmental, Social and Governance and Sustainable Investing

The Cayman Islands Monetary Authority (“the Authority”), similar to other regulators in various jurisdictions around the globe...

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19 January 2022

2021 Review of TCSPs Compliance with AMLRs - Customer Verification and Identity

Trust and Corporate Services Providers (“TCSPs”) use, establish and/or act for legal persons and arrangements on a regular bas...

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24 December 2021

Thematic Credit Review

The economic downturn brought on by the COVID-19 pandemic has had a varying impact globally.To assess the effect on the domestic l...

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16 September 2021

Changes to Business Plan

The Cayman Islands Monetary Authority (the “Authority”) is writing to remind licensees that each licensee shall only carry on ...

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28 June 2021

Procedure for Licence Applications

The objective of this circular is to provide supplemental guidance to entities seeking to apply for a licence to operate in or fro...

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15 January 2021

VASP Registration Reminder

Further to the commencement order that brought the Virtual Asset (Service Providers) Act, 2020 (the “VASP Act”) into effect

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14 December 2020

Registered Persons: Key Findings from On-site Inspections 2020

This Circular sets out the Cayman Islands Monetary Authority’s (the “Authority”) preliminary findings from on-site inspectio...

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03 December 2020

AML/CFT Reporting Forms for VASPs

Further to the launch of the regulatory framework for the Virtual Asset (Service Providers) Law, 2020 on 31 October 2020

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30 October 2020

VASP Registration/Notification Requirements

Further to the commencement order that brought the Virtual Asset (Service Providers) Law, 2020 (“the VASP Law”) into effect

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13 October 2020

Admin Fines - Sharing of Information

The Authority takes this opportunity to remind all readers of this circular that the Monetary Authority (Administrative Fines) (Am...

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09 October 2020

Cancellation Procedures for Regulated Private Funds

The ‘Cancellation of Licences issued pursuant to section 5 and Certificates of
Registration issued pursuant to Sections 4(3),

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29 May 2020

AML/CFT & Sanctions Onsite Inspections & Findings Pt 2

On-site inspections are fundamental to the effective execution of the Authority’s post-licensing regulatory and supervisory mand...

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06 September 2019

General Overview: Audit Firms, BEC Schemes, Board Proxies & Other

Various stakeholders, including clients, investors, shareholders and regulators, rely on audited financial
statements

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08 March 2019

AML/CFT & Sanctions Onsite Inspections & Findings Pt 1

The on-site inspection process is fundamental to the effective execution of the Authority’s post licensing regulatory and superv...

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04 June 2018

Business Continuity and Disaster Preparedness

The 2017 hurricane season was by all accounts hyperactive and catastrophic, with 17 named storms, 10 became hurricanes including s...

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05 January 2018

Requirements of the Financial Accounting Standards

During October 2017, the Cayman Islands Monetary Authority (the “Authority”) issued a Supervisory Issues and Information Circ...

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22 November 2017

2017 AMLRs Key Changes, Outsourcing AML/CFT Operations & FASB Updates

The Anti-Money Laundering Regulations, 2017 (“AMLRs”) which replace the Money
Laundering Regulations (2015 Revision) ("MLR") w...

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01 September 2017

Onsite Inspections Findings, Licensees’ AML/CFT Supervisory Approach & Thematic Review

On-Site inspections and the use of ‘Requirements’ stemming from findings

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01 February 2017

TCSPs Onsite Inspections Findings & Administrative Fine Regime

On-Site inspection Findings for licensed Trust and Corporate Services Providers

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01 October 2016

Common Regulatory and Thematic Issues Pt 2

We are pleased to share the second edition of the Cayman Islands Monetary Authority’s (the “Authority”) Supervisory Issues a...

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01 February 2016

Common Regulatory and Thematic Issues Pt 1

We are pleased to introduce the first edition of the Cayman Islands Monetary Authority’s (the “Authority”) Supervisory Issue...

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