Events listed in [CIMA] Cayman Islands Monetary Authority
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 ...
Approved Stock Exchanges
ID 22879
The Regulatory Policy – Approved Stock Exchanges by CIMA is regulating the policy regarding approved stock exchanges. It outlines the criteria for a stock exchange to be approved by the Authority for various purposes, including the Mutual Funds Act, Private Funds Act, Banks and Trust Companies Act, Securities Investment Business Act, Insurance Act, Companies Management Act, and Virtual Asset (Service Providers) Act. The **criteria ...
Updated Statement on Silicon Valley Bank
ID 22609
In light of the recent failure of SVB and the subsequent appointment of the FDIC as the Receiver, CIMA has maintained communication with the FDIC and other concerned parties regarding the receivership process and its impact on SVB’s Cayman Islands branch. As of 31 March 2023, the CIMA has received information indicating that **the FDIC will soon be issuing notices to SVB’s Cayman Islands ...
Private Fund SP Fees to be Returned
ID 22428
CIMA has announced that it will no longer be collecting annual registration fees for Segregated Portfolios belonging to private fund Segregated Portfolio Companies. This change is effective immediately. Furthermore, CIMA will refund any fees that were paid for this purpose from 2020 until the present date, prior to this announcement. CIMA is presently engaged in discussions with the Ministry of Financial Services and Commerce ...
CIMA Launches First Financial Stability Report
ID 22191
The Cayman Islands Monetary Authority (CIMA) has launched its first annual Financial Stability Report (FSR), which assesses the local financial system’s performance, including trends and vulnerabilities during 2020. The report analyzes the interconnectedness of the financial sectors and households‘ exposure to the real estate market. It also highlights regulatory and supervisory measures implemented by CIMA in response to the COVID-19 pandemic. Despite economic an ...
VASP 2023 Annual Renewal Fees
ID 21883
On 14 February 2023, Cayman Islands Monetary Authority (CIMA) issued a press release, advising all registered virtual assets service providers (VASPs) that, as outlined in Schedule 2 of the Virtual Asset (Service Providers) Regulations 2020, their 2023 annual renewal fees will be the same amount as the fee paid at the time of registration. The Authority has granted an **extension until 15 March 2023 ...