The Registrar for NPOs (non-profit organisations) will be staging a training session on corporate governance for charitable organisations in the Cayman Islands on Tuesday, 2 July from 5:30pm to 7:30pm in room 1038 of the Government Administration Building.
The session will cover best practices for charities; and money laundering and terrorist financing risks. Persons who serve as leaders and controllers within NPOs are encouraged to attend.
'The session will help all NPOs to fulfil their administrative duties in compliance with global standards for anti-money laundering, and countering the financing of terrorism', said Paul Inniss, the Head of Compliance at General Registry.
Mr Inniss will be facilitating the session, alongside Ben Evans of Financial Transparency Advisors (FTA). The Ministry of Financial Services has contracted FTA to assist with Cayman's preparations for the 2020 CFATF (Caribbean Financial Action Task Force) review of Cayman's anti-money laundering and counter terrorist financing regime.
As of 1 June, there were more than 400 churches, sports clubs, philanthropic organisations and community groups registered with Government. These entities, more typically referred to as charities, fall within the scope of the Non-Profit Organisations Law, 2017. The law was enacted in accordance with international standards to strengthen the Cayman Islands' regime to counter money laundering and terrorist financing.
Mr Inniss added that all charities in Cayman will find the July training session useful.
'The training is aimed at every NPO operating in the Cayman Islands. It has been organised to assist them in managing their respective organisations in accordance with global standards. We encourage persons to come prepared to ask questions and engage with us', he said.
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