October 17, 2019

Be alert of counterfeit notes in circulation in Cayman Islands

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The Cayman Islands Monetary Authority (“CIMA” or “the Authority”) has been made aware by the Financial Crimes Unit (FCU) of the Royal Cayman Islands Police Service that they are in receipt of counterfeit KYD notes, which were collected during the period 26 — 29 September 2017. The denominations in question are $25 and $100, all […]

Two young Caymanians promoted at CIMA

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(Grand Cayman – Friday, 29 September 2017) The Cayman Islands Monetary Authority (“CIMA” or “the Authority”) continues to highlight the achievements of its staff. As such, the Authority is pleased to announce the recent promotion, of Mr. Kieron Cacho as Chief Analyst in the Banking Supervision Division, and Mr. Harlee Hurlston as Senior Analyst in […]

Cayman Islands: Cessation of regulated mutual funds in 2017

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By Caroline Heal and Prasana From Walkers With Q4 fast approaching, if managers and operators are considering winding up a Cayman Islands regulated mutual fund (a “Fund”), it would be prudent to start the process as soon as possible with a view to completing it by year-end and minimising and/or precluding 2018 annual fees. Funds […]

Cayman Islands Voluntary Liquidations: Operational efficiencies from starting the liquidation process earlier

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Maples & Calder The timing of the commencement of the voluntary liquidation of a Cayman Islands company was often driven primarily by the desire to avoid incurring the following year’s annual government fees. To avoid those fees, the liquidation had to commence by December, with the final meeting being held before the end of January. […]

New Deputy Heads appointed at Cayman Islands Monetary Authority

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Grand Cayman (Monday, 10 July 2017) The Cayman Islands Monetary Authority (“CIMA” or “the Authority”) is once again proud to announce the appointment of two top positions. As of 1 June 2017, Mrs. Suzanne Sadlier was appointed as Deputy Head of the Insurance Supervision Division and Mrs. Judiann Myles was appointed as Deputy Head of […]

Promotions for new Securities Division at Cayman Islands Monetary Authority

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With the establishment of its new Securities Supervision Division, the Cayman Islands Monetary Authority (“CIMA” or “the Authority”) is pleased to announce the appointment of Mr. Kareem Robinson as Deputy Head of the Division and Ms. Jessica Ebanks as Chief Analyst, effective 1 March.  Mr. Andrew Tweedie was also promoted from Analyst to Senior Analyst […]

ILS in the Cayman Islands

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By John Dykstra From Maples and Calder John Dykstra of Maples and Calder talks about the market-leading variety available in the Cayman Islands The history of ILS in the Cayman Islands goes all the way back to the 1990s, when the very fi rst catastrophe bond transactions were set up in the jurisdiction. The ILS […]

Cayman Islands: Insurance seminar helps companies with CIMA inspections

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A unique seminar aimed at helping local insurance firms prepare for regulatory inspections from CIMA will be held at Willow House, Cricket Square, on July 11th, 2017. The seminar which is being organised by local management consulting and training company FTS, will feature CIMA’s Deputy Head of Insurance Mr Raz Busari as well as FTS […]

Seminar provides training for CIMA Inspections

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A unique seminar aimed at helping local financial services firms deal with regulatory inspections from CIMA will be held at the Kimpton Resort on April 20th. The seminar features an expert panel featuring industry professionals and senior members of CIMA’s onsite inspection team and is aimed at helping CEOs and compliance staff better understand how […]

Cayman Islands Monetary Authority confirms new fast-track approval for Cat bonds

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From CIMA Grand Cayman –  The Cayman Islands Monetary Authority (CIMA) has recently taken further steps to streamline applications for Catastrophe Bond Vehicles (Cat bonds) of Class ‘C’ insurers. This new regime will also make the registration timeframe more efficient, and ultimately, the Cayman Islands willuphold its reputation as a competitive jurisdiction. Effective 6 February […]