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

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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

Lucy Frew,Tony De Quintal,Colm Dawson

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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.

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