Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 28 JUNE 2024

FATF Removes Cayman Islands From Grey List

Stuarts Humphries
Explore more from Stuarts Humphries

Following two years of continuous commitment and collaboration between the public and private sectors, the Financial Action Task Force (FATF) has removed the Cayman Islands from its anti-money laundering "Grey List"...

Cayman IslandsFinance and Banking
Chris Humphries
Chris Humphries
Jonathan McLean
Jonathan McLean
Megan Wright
Megan Wright
Author LinkedIn connections

Following two years of continuous commitment and collaboration between the public and private sectors, the Financial Action Task Force (FATF) has removed the Cayman Islands from its anti-money laundering "Grey List" (jurisdictions under increased monitoring), determining that the country's robust AML regime now meets the global standard.

FATF announced the decision to delist the Cayman Islands following its 25-27 October plenary in Paris. The decision comes after the Cayman Islands demonstrated its commitment to international standards by satisfying all Recommended Actions and successfully completing an on-site inspection by the FATF earlier this year.

The milestone puts the Cayman Islands in a position to bolster its commercial offerings and provide increased protection for those doing business in and with the Cayman Islands. "The importance of this achievement simply cannot not be understated," said Hon. Samuel Bulgin, KC and Head of the Steering

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

View source

Related Articles

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

Read more about

Related Comparative Guides

See more popular content from

Article

Stablecoin Regulation 2026: Key Takeaways From Stablecoin Week And The Clarity Act Vote

The failure of the Digital Asset Market Clarity Act in the US Senate leaves cryptocurrency market participants navigating regulatory uncertainty, while major blockchain networks accelerate infrastructure development to integrate traditional banks onto stablecoin payment rails. Cross-border payments emerge as a dominant use case, with stablecoins offering faster, cheaper international settlements than correspondent banking, though compliance frameworks must evolve to match real-time transaction speeds.
Cayman IslandsFinance and Banking
Conyers
Conyers
Article

Cayman Islands Investment Funds - Summer 2026 Update

The Cayman Islands investment funds sector continues to evolve with significant regulatory updates affecting reporting requirements and the introduction of a new framework for tokenised funds. Key changes include modifications to Common Reporting Standards and Economic Substance filing procedures, alongside the implementation of legislation enabling digital token representation of fund interests.
Cayman IslandsFinance and Banking
Carey Olsen
Carey Olsen
Article

Cayman Islands Digital Assets - October 2026 Update

The Cayman Islands has introduced significant regulatory developments for digital assets, including a dedicated framework for tokenised funds, enhanced AML and sanctions rules, and strengthened market conduct requirements for virtual asset service providers. These changes provide greater regulatory certainty while reinforcing the jurisdiction's position as a leading hub for digital assets and fintech innovation.
Cayman IslandsFinance and Banking
Carey Olsen
Carey Olsen
Article

New CIMA AML Rule And Sanctions Rule: What Regulated Funds Need To Consider

New CIMA Rules effective September 2026 will transform anti-money laundering and sanctions compliance for Cayman Islands investment funds, elevating previous guidance to directly enforceable requirements. Fund governing bodies face enhanced responsibilities including mandatory annual AML training, independent audit requirements, and stricter AMLCO independence standards. Understanding these practical implications and preparing appropriate compliance frameworks will be essential for funds and their service p
Cayman IslandsFinance and Banking
Carey Olsen
Carey Olsen
Article

2027 CRS, FATCA And CARF Deadlines

The Cayman Islands Department for International Tax Cooperation has released critical updates for the 2027 compliance cycle covering Common Reporting Standard, Foreign Account Tax Compliance Act, and Crypto-Asset Reporting Framework requirements. Financial institutions and crypto-asset reporting service providers must navigate new registration deadlines, enhanced due diligence procedures, and the transition to updated XML reporting schemas for the 2026 calendar year.
Cayman IslandsTax
Stuarts Humphries
Stuarts Humphries
Article

Cayman CRS PPoC: Local Contact Requirements

The Cayman Islands has introduced a new local nexus requirement for Common Reporting Standard compliance, mandating that Financial Institutions appoint a Principal Point of Contact with a physical presence in the Cayman Islands. With the 31 January 2027 deadline approaching and penalties of CI$10,000 for non-compliance, FIs must urgently review their current registrations and ensure their appointed contacts meet the updated territorial requirements.
Cayman IslandsTax
Stuarts Humphries
Stuarts Humphries
Article

Establishing Your Cayman Fund, Investment Manager, Fintech Business Or Digital Asset Venture

The Cayman Islands has emerged as a leading jurisdiction for establishing funds, investment management operations, and digital asset ventures, offering regulatory clarity and a sophisticated financial services ecosystem. This guide examines the regulatory framework for traditional and tokenised funds, the Virtual Asset Service Providers Act regime, and opportunities within the Cayman Islands Special Economic Zone. Legal experts outline the practical steps and strategic advantages for fund managers, fintech
Cayman IslandsFinance and Banking
Stuarts Humphries
Stuarts Humphries
Article

Guide: Cayman Fund, Investment Manager And Fintech Establishment

The Cayman Islands has emerged as a premier jurisdiction for digital asset funds, tokenised investment vehicles, and fintech ventures, offering regulatory clarity through frameworks like VASPA and SIBA. This comprehensive guide explores how entrepreneurs and fund managers can leverage Cayman's tax-neutral environment, flexible fund structures including segregated portfolio companies, and the Special Economic Zone to establish and scale digital asset businesses with legitimate offshore substance.
Cayman IslandsFinance and Banking
Stuarts Humphries
Stuarts Humphries
Article

Cayman Islands Local PPOC Requirement

The Cayman Islands has implemented new regulations requiring every Cayman Financial Institution to designate a Principal Point of Contact based locally, with an extended compliance deadline now set for January 2027. This development represents a significant component of the jurisdiction's broader CRS 2.0 implementation framework, creating new operational obligations for financial institutions operating in the territory.
Cayman IslandsTax
Stuarts Humphries
Stuarts Humphries