Industry News

Cayman Finance Statement on FATF Decision to Increase Monitoring of the Cayman Islands

Cayman Finance issued the following statement by CEO Jude Scott about the announcement by the Financial Action Task Force (FATF) that it was increasing its monitoring of the Cayman Islands: “The financial services industry appreciates the efforts made by the Cayman Islands Government to successfully address 60 separate FATF’s recommended actions to strengthen the jurisdiction’s …

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Ministry Increases Efficiency During COVID-19 Pandemic

The Ministry of Financial Services and its related entities have instituted a number of changes to increase efficiency of its operations to better support the work of the financial services industry in the midst of the coronavirus (COVID-19) pandemic. Most of the changes can be seen in the registration of company details with the Registrar …

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CRS Form Released, FATCA Deadline Extended

CRS Form Released, FATCA Deadline Extended The Department for International Tax Cooperation (DITC) advises industry of the following: CRS Compliance Form As of today (Wednesday, 15 April) the DITC is providing industry with the advance release of its new CRS Compliance Form. Whilst the 2020 deadline for submission of this form is 31 December 2020, …

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Cayman Islands Completes National Assessment of Terrorism Financing Risk

The Cayman Islands has achieved another milestone in improving its understanding of how the jurisdiction can be misused for possible illicit purposes. In response to recommendations made by the Caribbean Financial Action Task Force (CFATF) in the Mutual Evaluation Report of the Cayman Islands, published in March 2019, the Cayman Islands undertook and completed a …

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