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Topic: Confidential Relationships (Preservation) Law
Cayman’s financial services industry, financial regulators and the territorial government are bracing for a mid-2017 review of anti-money laundering regimes.
Another raft of legislative changes, mostly related to Cayman’s financial reporting mechanisms and civil service work rules, are due to come before the Legislative Assembly this month.
Butterfield Group has stated that it welcomes proposed changes to the laws governing the disclosure of confidential information in the Cayman Islands.
The Confidential Relationships (Preservation) Law – which Cayman’s attorney general once referred to as “the bane of our existence since the 1970s” – will be replaced by rewritten legislation as early as this summer.