The Cayman Islands Monetary Authority ("CIMA") has recently published its inaugural bi-annual Supervisory Issues & Information Circular.
The Circular sets out the more important regulatory and thematic issues identified by CIMA over the previous six months, and highlights others that are likely to become more prevalent in the future.
This inaugural Circular covers de-risking, the upcoming Caribbean Financial Action Task Force review, outsourcing, data security, risk registers, fraud prevention and AML convergence. It also stresses the minimum requirements CIMA expects to see in a well-functioning AML/CFT programme.
The Circular may be accessed through the link below:
Cayman Islands Monetary Authority: Supervisory Issues & Information Circular
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.