Financial Services
Cayman Islands Financial Services Ministry
CIG Anti-Money Laundering Unit
Consultation draft bills:
- Companies (Amendment) (No.3) Bill, 2020 – Consultation Draft
- Exempted Limited Partnership (Amendment) (No.2) Bill, 2020 – Consultation Draft
- Limited Liability Companies (Amendment) (No.3) Bill, 2020 – Consultation Draft
- Limited Liability Partnership (Amendment) (No.3) Bill, 2020 – Consultation Draft
- Partnership (Amendment) Bill, 2020 – Consultation Draft
- Trusts (Amendment) (No.2) Bill, 2020 – Consultation Draft
- Banks and Trust Companies (Amendment) (No.2) Bill, 2020 – Consultation Draft
- Companies Management (Amendment) Bill, 2020 – Draft Consultation
Response:
- CF Comments – Proposed System of Oversight and Enforcement for Accounting Records Requirement, 6 Nov 2020
- Submission re DFS Legislation-Consultation Drafts from Companies & Companies Management Bills, 21 Oct 2020
Dep’t of Financial Services’ consultation process
Caribbean Financial Action Task Force:
- CFATF Anti-money laundering and counter-terrorist financing measures report, Cayman Islands, March 2019
- Summary Results of the Cayman Islands National Risk Assessment relating to Money Laundering Terrorist Financing and Proliferation Financing
Tax Information Authority:
European Union:
- Council Conclusions – Revised EU black-list of non-cooperative jurisdictions for tax purposes, 12 March 2019
- Draft letter sent to 90 countries by EU regarding blacklist, Jan 2017
- Memo on EU list of non-cooperative jurisdictions for tax purposes, 5 December 2017
- Press release from EU: Council publishes an EU list of non-cooperative, 5 December 2017
- CIG press release in response to EU black-list of non-cooperative jurisdictions for tax purposes, 5 December 2017
- Factsheet on EU Blacklist, December 2017
- Q&A – Factsheet on EU Blacklist, December 2017
- Press release 2 -Fair Taxation EU publishes list of non-cooperative tax jurisdictions, 5 December 2017
Beneficial Ownership:
Proposed imposition of BO register by UK government, May 2018
- Written statement by the Minister for the Overseas Territories and Sustainable Development, Baroness Sugg, 15 July
- CIG Statement on Beneficial Ownership, 15 July 2020
- Cayman Islands Statement on Public Beneficial Ownership of Companies, 9 Oct 2019
- Press release – CIG Statement on public beneficial ownership registers, 9 Oct 2019
- Beneficial ownership in the Overseas Territories and Crown Dependencies: Written statement made by Sir Alan Duncan (Minister of State for Foreign and Commonwealth Affairs) 1 Mary 2018
Cayman-UK relationship:
- Exchange of information between UK government and the Cayman Islands government – The exchange of notes and technical protocol for sharing beneficial ownership information came into force on 8 April 2016
- More information on the FCO website here
- Prime Minister’s letter to the Overseas Territories on beneficial ownership, 25 April 2014
- Chief Officer Dax Basdeo Statement, enhancement of exchange of information of beneficial ownership 11 April 2016
- Premier Statement, Enhanced sharing of beneficial ownership, 11 April 2016
- Letter from Cayman FS Minister Wayne Panton to George Osborne regarding the BO initiative, 6 May 2016
- Letter from Chancellor George Osborne to Cayman Minister Wayne Panton, 10 May 2016
UK National Crime Agency:
- Statement by premier on National Crime Agency, 15 September
- Statement by premier on FCO and NCA Comments, 17 September 2018
Consultation documents, November 2016:
- Press release – Comments Invited on Legislation to Create Beneficial Ownership Platform – 29 Nov 2016
- Consultation Draft Bill – The Companies (Amendment) Law 2017
- Cayman’s Centralised Platform for Beneficial Ownership Information – 29 Nov 2016
UK’s beneficial ownership register:
- UK Register of Overseas Entities’ Beneficial Ownership, Hansard, 22 March 2018
- Registers of beneficial ownership, House of Commons Library, 15 march 2018
Reports:
European Union:
- Draft letter sent to 90 countries by EU regarding blacklist, Jan 2017
- Memo on EU list of non-cooperative jurisdictions for tax purposes, 5 December 2017
- Press release from EU: Council publishes an EU list of non-cooperative, 5 December 2017
- CIG press release in response to EU black-list of non-cooperative jurisdictions for tax purposes, 5 December 2017
- Factsheet on EU Blacklist, December 2017
- Q&A – Factsheet on EU Blacklist, December 2017
- Press release 2 -Fair Taxation EU publishes list of non-cooperative tax jurisdictions, 5 December 2017
Financial Action Task Force (FATF):
Legal Practioners Bill:
- Legal Practitioners Bill, 2016
- Legal Practitioners Bill – Frequently Asked Questions (Caymanian Bar Association website)
- Letter to Panton re Legal Practitioners Bill, 10 Nov 2016
- Letter from FS Minister Wayne Panton to lawyers objecting the Legal Practioners Bill, 1 Dec 2016
- Private Member’s Motion on possible breaches of Legal Practitioners Law, February 2017
- Legal Practitioners Bill survey results
- Joint Statement of MLAs McLean, Conolly, Miller, Suckoo and Eden re Response by Minister Panton to Motion No. 17.17 (Legal Practitioners Bill)
- Cayman Finance statement re private member’s motion by Arden McLean and Winston Connolly
- Legal opinion re section 10 of Legal Practitioners Law by Paul Garlick QC, 23 March 2017
UK Financial conduct Authority:
- CIG Letter to FCA re FOI3320 – High Risk Countries List final 8 July 2014
- FCA Response to the Cayman Islands Government 12 August 2014
- Government Details Its Response to FCA’s ‘High Risk’ List – 14 Aug 14
Court Documents:
Links to Industry Associations:
- Cayman Bar Association (CBA)
- Cayman Finance
- Cayman Islands Bankers Association (CIBA)
- Cayman Islands Compliance Association (CICA)
- Cayman Islands Directors Association (CIDA)
- Cayman Islands Institute of Professional Accountants (CIIPA)
- Cayman Islands Law Society (CILS)
- CFA Society Cayman Islands
- Insurance Managers Association of Cayman (IMAC)
