A formal update to clients will follow, but just a reminder that all Cayman FIs that were Reporting FIs on 1 January 2016 have the remainder of this year to complete outstanding pre-existing account due diligence.

Deadline 31 December 2017 - Due diligence on pre-existing "lower value" individual account holders and pre-existing entity account holders to be completed.

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.