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Topic: Cayman Islands Monetary Authority (CIMA)

Cayman fund registrations continue to climb

Cayman fund registrations have continued their climb since the start of 2020, with third-quarter 2021 marking the seventh consecutive three-month period finishing with a higher number of total registered funds.

Seven Mile Securities fined $250,000 by CIMA

The Cayman Islands Monetary Authority has imposed administrative fines totalling $250,000 on broker Seven Mile Securities for anti-money laundering violations.

Intertrust allowed to appeal CIMA’s enforcement action after deadline passed

Corporate services provider Intertrust has been allowed to appeal a decision notice issued by the Cayman Islands Monetary Authority for anti-money laundering failings, even though the 21-day notice of appeal period has passed.

Number of funds in Cayman continues to grow

Since the registration of closed-ended funds was made mandatory in August 2020, the number of private funds in the islands has grown by 23.5%.

Binance CEO says ‘compliance is a journey’

Changpeng ‘CZ’ Zhao, CEO of beleaguered crypto exchange Binance, has described clear regulations as critical for growth of the virtual asset industry in an open letter this week.

CIMA: Binance not authorised to operate crypto-currency exchange

The Cayman Islands Monetary Authority announced that the Binance Group and Binance Holdings Limited are not registered, licensed, regulated or otherwise authorised to operate a crypto-currency exchange from or within the Cayman Islands.

In brief: Greenlight Re, CIMA, HSM, Cayman Management

Greenlight Capital Re hires head of innovation underwriting Reinsurer Greenlight Capital Re has appointed Heejae Cho as Head of Innovation Underwriting. Cho joins Greenlight Re...

CIMA fines Intertrust more than $4.2 million for AML breaches

It is the largest-ever fine handed down by the financial regulator for AML failings.

Senior management promotions at CIMA

The Cayman Islands Monetary Authority has announced five promotions to senior management positions.

CIMA asks banks for feedback on proposed US travel rule change

The Federal Reserve Board and the Financial Crimes Enforcement Network (FinCEN) proposed last October to lower the threshold for the travel rule from US$3,000 to US$250.

CIMA cancels more than 1,300 director registrations

The Cayman Islands Monetary Authority has cancelled the registration of 1,302 directors after they failed to comply with the Directors Registration and Licensing Act.

CIMA hands out $72,800 anti-money laundering fine to Star Insurance

The Cayman Islands Monetary Authority has fined another Cayman company for breaches of the Anti-Money Laundering Regulations.

CIMA issues fake money warning

Cayman's Monetary Authority is warning the public to be on the lookout for fake KYD notes currently in circulation.

Investor briefing highlights Cayman’s stability, new regulations

In video messages to international investors, government along with financial regulator Cayman Islands Monetary Authority last week emphasised Cayman’s resilience during the coronavirus pandemic..

CIMA revokes licence of CTS Captive Management

The Cayman Islands Monetary Authority has revoked the insurance managers licence of CTS Captive Management for regulatory breaches and insolvency.

Anti-money laundering: CIMA fines Western International $482,000

The Cayman Islands Monetary Authority has fined Western International Trust Company Limited $482,717 for breaches of the anti-money laundering regulations (AMLRs).

CIMA fines Bank Cainvest $100,000

The Cayman Islands Monetary Authority has fined Cainvest Bank and Trust Limited $100,000 for failings in the bank’s anti-money laundering practices.

CIMA revokes fund administrator licence

The Cayman Islands Monetary Authority has revoked the full mutual fund administrators licence of Focus Administration Limited, citing insolvency and regulatory issues. In a decision...

Cayman fights misuse of business entities

Cayman Islands Monetary Authority and the Anti-Money Laundering Unit hosted a training session on 8 Nov. for business representatives, government and regulators to better identify the risks of misusing legal persons and arrangements, such as companies, partnerships and trusts, for financial crime.

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