The Cayman Islands Monetary Authority (CIMA) has extended, to 31 December 2018, the deadline for regulated funds to notify CIMA of the appointment of an Anti-Money Laundering Compliance Officer, Money Laundering Reporting Officer and Deputy Money Laundering Reporting Officer as required under the Anti-Money Laundering Regulations (2018 Revision).
Unregulated funds are reminded that they also have an obligation to appoint AML Officers and should have these appointments in place by 31 December 2018. However, unregulated funds are not at this point required to confirm such appointments to CIMA.
CIMA has also confirmed that it will provide further guidance clarifying certain points under the related AML Guidance Notes.
Please speak to your usual Ogier contact or any of our partners listed here for advice in connection with the appointment of AML Officers and any necessary amendments to your fund's existing AML procedures and documentation to ensure compliance with the AML Regulations within the deadline.
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.