ARTICLE · 23 SEPTEMBER 2018

AML Officers' Appointment Deadline Fast Approaching

Appleby

Contributor

Appleby

Appleby is a leading offshore law firm. The team of legal specialists advise global public and...

View firm profile

Explore more from Appleby

AML Officers' Appointment Deadline Fast Approaching

BermudaGovernment, Public Sector

Author LinkedIn connections

Following the update to the anti-money laundering and countering of terrorist financing regime in the Cayman Islands in 2017 (see our May 2018 eAlert providing a summary of the key changes), this is a friendly reminder that Cayman Islands funds (open-ended and closed-ended) are required to designate a Money Laundering Reporting Officer, a Deputy Money Laundering Reporting Officer and an Anti-Money Laundering Compliance Officer by 30 September 2018.

With this deadline fast approaching, all Cayman Islands funds, if they have not done so already, should be taking all necessary steps to ensure compliance. If you need any assistance in this regard, feel free to get in touch with Sailaja Alla or your usual Appleby contact.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

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.

Related Articles

Bermuda Monetary Authority 2026 Business Plan: Overview & Expertise

BermudaGovernment, Public Sector

Bermuda Prepares For 5th Round Mutual Evaluation

BermudaGovernment, Public Sector

Kennedys Law LLP

Country Update – Bermuda: AML

BermudaGovernment, Public Sector

Preparing For An AML/ATF Onsite Visit From The Bermuda Monetary Authority

BermudaGovernment, Public Sector

Know Your Ongoing Bermuda AML/ATF Compliance Requirements

BermudaGovernment, Public Sector

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

See more popular content from

Government, Public SectorAppleby

Know Your Ongoing Bermuda AML/ATF Compliance Requirements

Continued compliance with Bermuda's anti-money laundering (AML) and anti-terrorist financing (ATF) legislation remains a hot topic for Bermuda regulated entities...

BermudaGovernment, Public Sector

A Guide To Anti-Money Laundering And Counter Terrorism Financing Laws

This memorandum provides an overview of the Anti-Money Laundering/Counter Terrorism Financing ("AML/CFT") regime in Bermuda

BermudaGovernment, Public Sector

Bermuda Economic Substance Amendments 2019

The Government has been engaged in active dialogue with the EU Code of Conduct Group and the OECD during the last 6 months to ensure equivalency with other 2.2 jurisdictions

BermudaGovernment, Public Sector

Guide To Anti-Money Laundering And Anti-Terrorist Financing In Bermuda

This Guide has been produced as an aid to those seeking general information regarding Bermuda's anti-money laundering and anti-terrorist financing regime.

BermudaGovernment, Public Sector

Bermuda Strengthens Regulatory Regime For AML/ATF Regulated Financial Institutions

The Bermuda Government and the financial services regulator, the Bermuda Monetary Authority (BMA), are committed to ensuring Bermuda's anti-money laundering and anti-terrorist financing ...

BermudaGovernment, Public Sector

Privacy Issues And The Common Reporting Standard

Bermuda has various procedures in place for the automatic exchange of information with other jurisdictions, pursuant to the Common Reporting Standard (CRS).

BermudaGovernment, Public Sector

In The Matter Of A Certain Conveyance From Smith To Beane

As we celebrate 400 years of the first recorded session of the Supreme Court of Bermuda, it seems fitting to reflect on the Island's long legal history and culture.

BermudaGovernment, Public Sector

Bermuda Prepares For 5th Round Mutual Evaluation

The Bermuda National Anti-Money Laundering Committee (NAMLC) recently published a draft Proceeds of Crime Miscellaneous Act 2025 (Bill) for consultation in preparation for Bermuda's 5th Round Mutual Evaluation...

BermudaGovernment, Public Sector

Kennedys Law LLP

Bermuda's Economic Investment Residential Certificate

Prior to 31 March 2023 an application could be made for an "Economic Investment Certificate" by non-Bermudian individuals who invested at least BM$2.5 million in the island.

BermudaGovernment, Public Sector

Securing Regulatory Compliance

Regulatory compliance continues to be an area of significant development in Bermuda. While anti-money laundering (AML), anti-terrorist financing (ATF) and global financial sanctions have been in focus for some time...

BermudaGovernment, Public Sector

Guide To Venture Capital In The Cayman Islands 2026

The Cayman Islands has emerged as the world's premier offshore jurisdiction for venture capital fund formation and cross-border investment structuring, with over 30,900 alternative investment funds managing USD8.2 trillion in assets.

Cayman IslandsFinance and Banking

BMA Sets Out Phased Path To A Bermuda Insurance Resolution Regime

The Bermuda Monetary Authority has published a consultation paper outlining the first phase of a resolution regime for the commercial insurance sector, designed to align with international standards. The framework establishes the BMA as the Resolution Authority with five core objectives and defines which insurers will fall within scope. This phased approach raises important questions about governance, recovery planning, and the practical implications for domestic insurers and Internationally Active Insuranc

BermudaInsurance

New CIMA Rules On AML/CFT/CPF Compliance And Financial Sanctions Issued In The Cayman Islands

The Cayman Islands Monetary Authority has published two new Rules introducing binding requirements for regulated financial service providers regarding anti-money laundering, counter-terrorist financing...

Cayman IslandsGovernment, Public Sector

Guide To Companies In Mauritius

This is the Fourth Edition of the Guide, which we have produced for the information of our clients and professional colleagues. This edition takes account of changes brought about by the Companies Act 2001 and the Financial Services Act 2007.

MauritiusWealth Management

Cayman Short Form Merger – Is It A Loophole?

Section 238 of the Companies Act (2025 Revision) (the "Act") provides a statutory right for shareholders who dissent from a merger to be paid a judicially determined fair value for their shares in lieu...

GlobalCorporate/Commercial Law

2026 Guide To Blockchain & Crypto-Assets In The Cayman Islands

This guide provides the latest legal information on the evolution and regulation of these markets, licensing and set-up requirements for businesses, cross-border services, decentralised finance...

Cayman IslandsTechnology

The Long Game: How Bermuda Became The World’s Life Reinsurance Capital

Bermuda has emerged as the dominant global hub for life and annuity reinsurance, now holding over $900 billion in US life and annuity liabilities and accounting for 84% of all US reserves ceded offshore. This analysis examines how the island's sophisticated regulatory framework, purpose-built infrastructure, and commercially engaged regulator have created a structural advantage that extends beyond its traditional catastrophe reinsurance roots into long-dated life business from the US, UK, and Asia.

BermudaInsurance

Guide To Trusts In The Isle Of Man

The Isle of Man offers wealthy families a politically stable, well-regulated and practical base in which to establish wealth and business succession planning structures. Modern and robust legislation, high-quality professional advisers and service providers, and a reputation for cost-effectiveness, all contribute to the island's attractiveness as a trusts jurisdiction.

Isle of ManWealth Management

Upcoming Deadline For Annual Returns For BVI Business Companies And Limited Partnerships

Entities in the British Virgin Islands may qualify for exemptions from Annual Return requirements based on specific criteria. BVI Business Companies and Limited Partnerships can avoid filing obligations if they meet conditions such as being listed on recognized exchanges, regulated by the FSC, or filing tax returns with financial statements.

British Virgin IslandsCorporate/Commercial Law

Abraaj Group Fraud - Summary Judgment For Receivers Of Secured Lender For Information On The Fraud

The Grand Court has awarded summary judgment to certain limited partners seeking true and full information from the general partner under section 22 of the Exempted Limited Partnership Act.

Cayman IslandsCorporate/Commercial Law