ARTICLE
15 August 2019

Notice To Industry - Excluded Person (AML-CFT Form)

W
Walkers

Contributor

Walkers is a leading international law firm which advises on the laws of Bermuda, the British Virgin Islands, the Cayman Islands, Guernsey, Ireland and Jersey. From our 10 offices, we provide legal, corporate and fiduciary services to global corporations, financial institutions, capital markets participants and investment fund managers.
On 9 August 2019, the Cayman Islands Monetary Authority published a Notice to Industry to remind all persons currently registered as excluded persons under the Securities Investment Business Law...
Cayman Islands Government, Public Sector

On 9 August 2019, the Cayman Islands Monetary Authority (the "Authority") published a Notice to Industry ("Notice") to remind all persons currently registered as excluded persons under the Securities Investment Business Law (2019 Revision) ("SIBL EPs") of their obligation to file AML/CFT Reporting Forms (AIR-157-75 and ARC-158-75) by 15 August 2019.

The Notice states that in the event that the SIBL EP does not provide the required information to the Authority by 15 August 2019, they will be de-registered as a SIBL EP by the Authority.

Walkers is liaising with the Authority regarding the potential impact of this advice, however in the interim we would strongly encourage you, to the extent not done so already, to ensure that the forms are completed fully (all questions are mandatory and must be answered in full) and returned to Walkers as soon as possible. In the event a SIBL EP is de-registered, it will need to re-register before it can undertake SIBL regulated activities in the Cayman Islands.

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.

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Learn More