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ARTICLE · 26 JANUARY 2022

Managing And Responding To A CIMA On-site Inspection

Ogier
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In this briefing, we consider how to best to prepare for, manage and respond to an on-site inspection made by the Cayman Islands Monetary Authority (CIMA)...

Cayman IslandsFinance and Banking
Martin Byers
Martin Byers
Joanne Huckle
Joanne Huckle
Dave Sherwin
Dave Sherwin
Christopher Levers
Christopher Levers
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In this briefing, we consider how to best to prepare for, manage and respond to an on-site inspection made by the Cayman Islands Monetary Authority (CIMA) and address some frequently asked questions for regulated entities in relation to such inspections.

Introduction

CIMA has powers, under the Monetary Authority Act (MAA) and certain other regulatory laws of the Cayman Islands, to conduct on-site inspections of licensees such as administrators, banks and trust companies and other regulated entities such as registered persons under the Securities Investment Business Act (SIBA) in the Cayman Islands (together, Regulated Entities). For the avoidance of doubt, the scope of this briefing does not extend to regulated investment funds.

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