The Securities Investment Business (Amendment) Law, 2019 ("SIBL Amendment"), is now in force. It amends the Securities Investment Business Law (2019 Revision) ("SIBL") in response to global standards and adjusts the regime for persons which carry on securities investment business but have been excluded from SIBL's licensing requirements under Schedule 4 ("Excluded Persons"). The Cayman Islands Monetary Authority ("CIMA") has issued a notice to Excluded Persons on its website to reflect the SIBL Amendment, requiring Excluded Persons to submit two AML/CFT reporting forms ("AML/CFT Forms") by 15 August 2019. This advisory provides a summary of the key points.
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.
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.
