CIMA appoints new deputy head of AML division
The Cayman Islands Monetary Authority promoted Megan Powell deputy head of its Anti-Money Laundering Division on 1 April 2022.
Powell has served as the division’s chief analyst since November 2019.
In her new position, she will support the head of the division in the day-to-day management and oversight of CIMA’s risk-based AML supervision. She is also responsible for co-managing the ongoing monitoring of licensees and registrants, as well as enforcement matters.
Powell began her career at CIMA in May 2017 as a senior analyst in the Fiduciary Services Division. Previously, she worked at an international asset recovery firm assisting with fraud investigations, cross-border insolvency cases and restructuring engagements.
Harneys advises Waystone Group on its acquisition of Centaur
Harneys has acted as Cayman Islands counsel to Waystone Group on its acquisition of the Centaur Group, an established global fund administration and fiduciary services provider headquartered in Ireland. Completion of the transaction is subject to regulatory approval and customary closing conditions.
Waystone, which comprises the former DMS Governance, is an institutional provider of services to the asset management industry, with assets under management in excess of US$1 trillion.
Carey Olsen client Certik doubles valuation
Lawyers from Carey Olsen’s corporate team in the Cayman Islands have advised web3 and blockchain security firm Certik on its US$88 million Series B3 funding round, which is bringing its valuation to US$2 billion.
The oversubscribed funding round means Certik has doubled its valuation in three months, having raised a total of US$230 million across four separate funding rounds over the past nine months, all of which Carey Olsen advised on.
The Series B3 was led by Insight Partners, Tiger Global and Advent International. Goldman Sachs also participated alongside existing investors such as Sequoia and Lightspeed.
Certik has so far protected more than US$300 billion worth of crypto assets for 2,500 enterprise clients through its auditing and fraud investigation services. In 2021, Certik’s revenues rose by a factor of 12, while profits increased by 3,000 times.
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