Events listed in Monetary Authority Act (MAA)
Internal Controls (Effective: October 2023)
ID 23335
CIMA has issued a Rule and Statement of Guidance on Internal Controls for Regulated Entities, providing comprehensive guidance on the implementation of effective internal controls for regulated entities in the Cayman Islands. The purpose of the present guidance is to establish the Authority’s requirements and minimum expectations on internal controls for all entities regulated by the Authority under the regulatory acts. The guidance will ...
Corporate Governance – (Effective: October 2023)
ID 23334
CIMA has issued a Rule of Corporate Governance for Regulated Entities to promote effective management and safeguard the interests of stakeholders. The Rule emphasize the establishment of a Governing Body responsible for implementing a corporate governance framework. This body oversees Senior Management, sets performance standards, and ensures alignment with the entity’s strategies and objectives. To foster objectivity, the Governing Body must establish **clear and ...
Cybersecurity for Regulated Entities
ID 22894
CIMA has issued a Statement of Guidance – Cybersecurity for Regulated Entities that offers direction to regulated entities regarding the creation and upkeep of a secure and strong cybersecurity framework. Additionally, CIMA has provided a Rule – Cybersecurity for Regulated Entities template to make sure that regulated entities have resilient cybersecurity measures in position to recognize, shield, discover, respond to, and recuperate from cybersecurity-related ...
Nature, accessibility and retention of records
ID 22893
This Statement of Guidance – Nature, Accessibility and Retention of Records provides guidance on the nature, accessibility, and retention of records for entities regulated or registered under the regulatory Acts in the Cayman Islands. The document outlines the minimum expectations of a regulated entity’s record-keeping arrangements, which must be adequate to satisfy the requirements of CIMA and relevant regulations and Acts. The document emphasizes ...