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 Rules, Statement of Principles, Statements of Guidance, Regulatory Policies, Regulatory Procedures and Forms that pertain to the Virtual Asset Service Providers sector.
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.
Principles that set out the general standards for the conduct of business by all registered persons and licensees, in accordance with the regulatory law, which will be used by the Authority as a measure to assess compliance.
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.
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.
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|
|Fitness and Propriety||View||View||
|Conduct for Virtual Asset Services||View|
|Outsourcing (for Regulated Entities)||View|
|Nature, Accessibility and Retention of Records||View|
|Cybersecurity for Regulated Entities||View||View|
|Regulatory Policy - Criteria for Approving Changes in Ownership and Control||View|
|Guidance Notes on the Prevention and Detection of Money Laundering, Terrorist Financing and Proliferation Financing in the Cayman Islands|