Topic: Cayman Islands Monetary Authority
Cayman reinsurance: Setting the record straight
Writer set the record straight with regard to establishing, capitalising and regulating Cayman's reinsurance entities.
Revisions to revised fees published for mutual funds and private funds
The Cayman Islands Monetary Authority is providing information on revisions to fees payable by regulated mutual funds and regulated private funds, further to its industry notice dated 31 Dec. 2025.
Cayman reinsurers hit back at The Wall Street Journal
The Cayman International Reinsurance Companies Association has published its official response to a 6 Oct. Wall Street Journal article that criticised Cayman as a reinsurance jurisdiction.
Insurance licences still on the upswing, second-quarter figures show
A total of 16 new international insurance licences were granted in the second quarter of 2025, which could lead to a record-breaking year, CIMA has said.
CIMA moves to Pavilion East in Cricket Square
As of 30 June, the Cayman Islands Monetary Authority moved to the second floor of the newly opened Pavilion East building in Cricket Square.
Police still awaiting specialist reports on death of Judiann Myles
Police say they are still waiting to receive reports from overseas specialists helping in the investigation into the death of Judiann Myles.
Cayman edges closer to coveted US qualified status in reinsurance
Cayman is making progress in obtaining a prestigious seal of approval from US regulators, a senior official at the Cayman Islands Monetary Authority said.
Colleagues pay tribute to Judiann Myles
Colleagues of Judiann Myles have paid tribute to a "vibrant, compassionate" person who they described as a key figure in the Cayman Islands fight against money laundering.
CEO of US insurance giant asks Trump to halt ‘unhealthy’ Cayman competition
The head of a giant US life insurer has appealed to President Donald Trump and regulators to crush Cayman's life reinsurance business.
Warning over scam ‘Cayman Crypto Bank’
Police and regulators are warning the public about a fake 'Cayman Crypto Bank'.
Cayman hits record 30,000 registered investment funds
The Cayman Islands has reached a financial milestone as a global leading investment funds centre by registering a record 30,000 funds.
Disgraced former Binance CEO barred from leaving US
The former CEO of Binance, a crypto currency exchange company that broke US anti-money laundering laws, has been told he cannot go home to the United Arab Emirates.
IMAC: Insurance sector continuing to strengthen
The Cayman Islands Monetary Authority issued 12 new licences to insurance and reinsurance companies in the second quarter of 2023, marking continuing growth in the sector.
Consilium granted Cayman licence
The Cayman Islands Monetary Authority has granted a licence to international (re)insurance Consilium, which is part of the US$1.5 billion Aventum Group.
Maples wins court battle over ‘onerous’ anti-money laundering rules
Financial regulators over-reached in their attempts to enforce ‘onerous’ anti-money laundering regulations on one of Cayman's biggest financial services firms, the Grand Court has ruled.
SEC fines Nexo US$22.5 million
The US Securities and Exchange Commission has charged Nexo Capital Inc. with failing to register the offer and sale of its retail crypto asset lending product, the Earn Interest Product (EIP).
Sterling Asset Management allowed to appeal CIMA fine
The Grand Court has granted Sterling Asset Management leave to appeal a $299,050 fine imposed by the Cayman Islands Monetary Authority for the investment management firm’s anti-money laundering (AML) failings.
CIMA: Insurance industry statistics point to successful year
Cayman Islands Monetary Authority has licensed 20 new insurers or reinsurers in the first six months of 2021.
SEC again charges former Cayman broker with securities fraud
The US Securities and Exchange Commission has charged former Cayman Islands broker Oliver-Barret Lindsay, together with two other individuals, with insider trading.
Regulator not aware of new Woodford fund in Cayman
CIMA confirmed that there is no current or pending registration with the authority in reference to Neil Woodford.
Virtual asset services enforcement takes effect
The Ministry of Financial Services advised the public that the enforcement provisions of the Virtual Asset Service Providers (VASP) Act have come into effect on Sunday, 31 Jan.
CIMA warns unregistered directors
The Cayman Islands Monetary Authority has warned 1,330 directors who have not met annual registration and information requirements, that it will cancel their listed director registration.
Number of CIMA-registered open-ended funds grows by 7.7%
The number of open-ended funds registered with the Cayman Islands Monetary Authority increased by 7.68% in the first nine months of 2020.
Report: 254 private funds have registered with CIMA
The new requirement to register closed-ended, or private, funds with the Cayman Islands Monetary Authority has to date prompted 254 funds into action so far. Government enacted the Private Funds Law in January which gave closed-ended funds until 7 Aug. 2020 to register with CIMA and comply with Cayman’s investment funds regime.
Government proposes framework to regulate crypto services
The Cayman Islands government has issued a proposed legislative framework for virtual asset service providers that seeks to align the crypto space with international anti-money laundering standards.
Annual statistics: Mixed results for financial services
Business appears to be booming, with the economy growing at close to 3% per year, according to latest statistics. However, data from the Cayman Islands Monetary Authority shows not all financial services statistics for 2019 are positive.
Premier, ministers head to US for financial services conferences
Premier Alden McLaughlin heads to the US where he is set to address two conferences this week aimed at discussing issues impacting the local financial services industry.
Controllers find ‘serious’ regulatory breaches at OneTRADEx
Cayman discount broker OneTRADEx has been placed into provisional liquidation following a court hearing on Tuesday, 3 Sept. The primary purpose of the provisional liquidation is to facilitate the sale of certain parts of the business that the company has with Interactive Brokers.
CIMA takes control of broker OnetradeX
Cayman’s financial services regulator, the Cayman Islands Monetary Authority, took charge of local broker OnetradeX by appointing Kenneth Krys and Angela Barkhouse of Krys Global as controllers of the company.
Cayman broker, associate plead guilty to conspiracy
Cayman Islands-based broker Oliver-Barret Lindsay and California-based co-defendant Gannon Giguiere pleaded guilty to conspiracy, related to securities fraud, in US federal court.
Saunders continues push for healthcare reform
Cayman’s health insurance system remains in urgent need of reform, despite the revelation that private sector profits are much lower than previously thought.
Health insurance profits overstated
Figures suggesting Cayman health insurance providers are making annual profits in excess of $50 million may have been overstated, new data from the Cayman Islands Monetary Authority shows.
CIMA hosts financial services mixer for students
The Cayman Islands Monetary Authority will host a mixer next month for students interested in the financial services industry.
CIMA cancels broker’s director licence following fraud charges
The Cayman Islands Monetary Authority has suspended the director registration of Oliver-Barret Lindsay, the owner of CMGT Capital Management and Lindsay Capital Corp. SEZC.
Securities law amended to end regime of ‘excluded persons’
Lawmakers approved amendments to the Securities Investment Business Licensing Law that will introduce a regulatory and supervisory framework for ‘excluded persons’, which are until now exempt from requiring a license to conduct securities investment business and being regulated by the Cayman Islands Monetary Authority.
JTC obtains trust licence, appoints managing director
Independent fund and corporate service provider JTC has been granted a trust licence by the Cayman Islands Monetary Authority.
CIMA issues 16 new insurance company licences, total number drops
The Cayman Islands Monetary Authority has issued 16 new insurance and reinsurance company licences in 2019 to date.
Public consultation launched on securities law amendments
Government plans to broaden Cayman’s regulatory framework for securities and investment businesses, after a review by the Cayman Islands Monetary Authority identified regulatory and reputational risks stemming from entities that under the law can operate without a licence.
Foreign workers sent home record amount of cash in 2018
Foreign workers are sending more money back to their home countries than they have in at least the last 10 years.
Coin proves to be quick-silver hit
Following a record-fast sellout of a silver commemorative coin to mark the 60th anniversary of the local coat of arms last year, a second edition of the coin has been minted.
CIMA appoints new head of Securities Supervision Division
The Cayman Islands Monetary Authority has appointed Gerald Halischuk as head of the financial regulator’s Securities Supervision Division.
CIMA scholar returns to work in Cayman
The Cayman Islands Monetary Authority is welcoming back scholarship recipient Ashleigh Powell, who recently completed her studies at the University of Texas at San Antonio.
Number of registered funds up in Cayman, insurance market solid
Although the hedge fund industry faced one its most difficult years since the financial crisis, the number of funds licensed by the Cayman Islands Monetary Authority grew by 4.1 percent in 2018.
Cayman’s foreclosure laws under review
The Law Reform Commission has published a discussion paper on the foreclosure regime in the Cayman Islands, concluding that existing laws should be updated. In publishing the report, the commission is inviting comments from stakeholders and the general public on the issue.
CIMA run raises $18,000
The Cayman Islands Monetary Authority donated $18,150 raised in its charity walk/run earlier this year to literacy and numeracy programs in local government primary schools.
Grand Court orders winding-up of reinsurer
The Grand Court has granted the Cayman Islands Monetary Authority’s petition for the winding-up of Beechwood Re, a reinsurance firm being sued for fraud in the U.S., and with ties to a hedge fund whose former executives are facing civil and criminal fraud charges in the U.S.
CIMA to supervise banking groups on a consolidated basis
The Legislative Assembly adopted the Banks and Trust Companies Bill 2018, which empowers the Cayman Islands Monetary Authority to supervise banking groups on a consolidated basis.
Government to introduce digital assets framework
Minister of Financial Services Tara Rivers has announced that government favors a regulatory sandbox-type framework for digital assets. The minister outlined government’s approach to regulating digital assets in a statement in the Legislative Assembly on Nov. 14.
CIMA demands anti-money laundering audits from excluded persons
The Cayman Islands Monetary Authority has sent letters to securities and investment businesses registered as excluded persons, demanding they obtain within 30 days an auditor’s report on their anti-money laundering (AML) systems and procedures for compliance with Cayman’s AML regulations.
Offshore banks slide while domestic banks fare well in 2017
Cayman’s offshore banking sector continued to slide in 2017, but domestic banks posted a strong year as the territory’s economy continued to grow.
Anti-money laundering officer and related deadlines pushed back
The Cayman Islands Monetary Authority has announced that regulated funds have until Dec. 31 to notify the regulator of the appointment of anti-money laundering officers, and unregulated funds have until the same date to make their AML officer appointments.
CIMA to host IOSCO conference for securities regulators
For the first time, the Cayman Islands Monetary Authority will partner with the International Organization of Securities Commissions Secretariat to host the 2018 IOSCO Growth and Emerging Markets Committee Annual Conference and Meetings in the Cayman Islands, from Sept. 19 to 20.
Cayman Islands police warn of fraudulent investment company
The police are investigating reports of a fraudulent investment company purportedly based in the Cayman Islands and has warned potential investors into any companies in Cayman to carry out proper research and due diligence.
No time line for cryptocurrency regulations
With some US$4.2 billion raised by Cayman-registered blockchain companies, this jurisdiction has raised more funds from initial coin offerings – the crypto version of initial public offerings – than any other places in the world.
CIMA appoints reinsurance specialist
The Cayman Islands Monetary Authority appointed Peter Fox as reinsurance specialist in its Insurance Supervision Division on June 8.
CIMA signs agreement with US association of insurance commissioners
The Cayman Islands Monetary Authority signed a memorandum of understanding with the National Association of Insurance Commissioners on Aug. 4.
Privy Council rejects challenge against CIMA
The territory’s financial regulator announced on Tuesday that the Privy Council has refused an application to appeal from an international stock trading platform, which had been challenging CIMA’s order to produce records for an ongoing investigation in Australia – records the entity claims to not have.
Liquidators seek $582K from ex-employee of ‘fugitive’ director
Court-appointed liquidators attempting to recover millions in assets held by two now-defunct investment brokerages formerly managed by funds director Ryan Bateman have sued a former employee of one of those brokerages seeking US$582,000 plus interest payments.
Insurance industry sees slight uptick
Cayman has seen a slight uptick in the number of international insurers registered here through the first half of 2018, according to recently released statistics from the Cayman Islands Monetary Authority.
Wayne Panton to lead Cayman Islands Monetary Authority
Former government Minister Wayne Panton was named Wednesday as chairman of the Cayman Islands Monetary Authority, replacing his former colleague at Walkers law firm, Grant Stein, in the chairman’s post.
Public service larger, less Caymanian
The Cayman Islands public service had more overall employees than ever by the end of 2017, according to a human resources report released by the government last week. A total of 6,250 people worked for either the central government civil service or its associated statutory authorities and government-owned companies by Dec. 31, 2017.
Three senior promotions at CIMA
The Cayman Islands Monetary Authority announced the promotions of Kenton Tibbetts, Jackie Powell Marsden and Yoshneck Mutomba.
Boards, public workers to be protected from ‘negligence’
The Cayman Islands government will seek to change the law to protect both appointed members of statutory authority boards and government workers who serve those agencies from legal liability arising from certain negligent actions.
FTS to host seminar on roles of money laundering reporting officers
“The seminar will provide delegates with more information about each role, the duties involved and how to manage potential related risks,” Paul Byles, director of FTS, said.
Minister: Blockchain regulations coming down the pipeline
Last June, the Cayman-registered blockchain firm Block.one opened its initial coin offering – the crypto version of an IPO.
EDITORIAL – Health insurance: A product divorced from market reality
Already burdensome health insurance costs are spiraling out of control – as many readers know from personal experience. Last week’s Public Accounts Committee review of recent Cayman Islands Monetary Authority reports quantifies just how out of control it is.
Private health costs, insurer earnings soar
Earnings for Cayman’s private sector health insurers nearly quadrupled in one year following changes made to the islands’ standard health insurance contract rules, members of the Legislative Assembly’s Public Accounts Committee heard Wednesday.
CIMA’s online portal brings improvements
The implementation of the Cayman Islands Monetary Authority’s Regulatory Enhanced Electronic Forms Submission system has brought about noted improvements in the delivery and management of information, CIMA said.
CIMA to host school fundraiser run next month
The Cayman Islands Monetary Authority will host its second annual charity walk/run next month in support of literacy and numeracy programs in government primary schools.
CIMA cautions investors over virtual currencies
The Cayman Islands Monetary Authority has issued an advisory on the potential risks of investments in initial coin offerings, or ICOs, and all forms of virtual currency.
Cayman captive industry gathers at US risk conference
Representatives from Cayman’s captive industry are attending RIMS 2018, a leading risk conference, in San Antonio, Texas, next week.
Lawmakers indemnify CIMA, liquor boards
“Bad faith” decisions made on behalf of Cayman Islands government-appointed boards will not receive legal protection, Premier Alden McLaughlin declared Friday.
