Topic: compliance

Provenance Compliance, recognised as a global leader in regulatory compliance and advisory services for both digital assets and traditional financial institutions, has announced the opening of its newest office in Dubai, United Arab Emirates.

Compliance teams across the Cayman Islands need to remain vigilant to a rapidly evolving threat landscape. That was one of the key messages from a briefing held by a local law and regulatory firm.

While Little Cayman's Nassau grouper population has rebounded with strong signs of recovery this year, Grand Cayman has not achieved similar success as it faces challenges to growth.

New research from regulation and compliance services company Ocorian has found that professional investors and corporates expect fines for breaking regulations to rise.

Financial Services Minister André Ebanks remains cautiously optimistic that Cayman's may soon be removed from the Financial Action Task Force grey list, saying that the jurisdiction has "put in the work" required.

Over the last three years, Workforce Opportunities and Residency Cayman has registered 405 breaches of the Immigration Act and levied over $1.04 million in fines from local companies and individuals.

High-profile scandals and compliance failures in the US, Israel, Northern Europe and Germany have attracted the lion's share of penalties out of the total US$5.6 billion in fines for global financial institutions for non-compliance in the first half of 2020.