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Cayman Islands Monetary Authority release public advisory on virtual currencies
The Cayman Islands Monetary Authority (CIMA) is issuing an advisory on the potential risks of investments in Initial Coin Offerings (ICOs) and all forms of virtual currency. Customers should thoroughly research virtual currencies, digital coins, tokens, and the companies or…
33 new captives for Cayman Islands last year
From Captive Insurance Times The Cayman Islands Insurance Supervision Division licensed 33 new captive insurance companies last year, in comparison to the 39 it licensed in 2016.The year-end statistics from the Cayman Islands Monetary Authority (CIMA) showed that 48 licenses…
Cayman Islands 2016 Investments Statistical Digest published
The Cayman Islands Monetary Authority (CIMA) is pleased to release its 10th edition of the Investments Statistical Digest. The document captures information that is required to be filed by all regulated funds via the Funds Annual Return (FAR) through CIMA’s…
Assets of Cayman Islands hedge funds up but number of funds down
By Komfie Manalo, Opalesque Asia: The number of Cayman-registered hedge funds fell in 2016, according to data from the 2016 Investment Statistical Digest published by the Cayman Islands Monetary Authority (CIMA). However, the value of assets by the industry rose…
Cayman Island Insurance Company formations clipping along in 2017
To date for 2017, the Cayman Islands Monetary Authority (CIMA) has issued 23 new insurance company licenses. This count includes 20 Class B licenses, 11 of which represent third-party insurers, and 3 Class C licenses. The 2016 year ended with…
Cayman Islands: The Anti-Money Laundering Regulations, 2017
By Martin Livingston, Tim Dawson, Adam Huckle From Maples The Anti-Money Laundering Regulations, 2017 (“AML Regulations“) were gazetted on 20 September 2017 and come into force on 2 October 2017. The Money Laundering Regulations (2015 Revision) have been repealed and…
Be alert of counterfeit notes in circulation in Cayman Islands
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…
Two young Caymanians promoted at CIMA
(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…
Cayman Islands: Cessation of regulated mutual funds in 2017
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…
Cayman Islands Voluntary Liquidations: Operational efficiencies from starting the liquidation process earlier
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…
