Public Consultation Begins On Amendment To Securities Law

Government plans to broaden Cayman's regulatory regime for securities and investments via The Securities Investment Business (Amendment) Bill, 2019, which became available for public consultation yesterday (Tuesday, 16 April).

The bill, which will be discussed in the next meeting of the Legislative Assembly, would allow Cayman to introduce a regulatory and supervisory framework for entities that previously were excluded from licensing requirements under the Securities Investment Business Law (2015 Revision). For example a Cayman subsidiary, of a parent company located in another jurisdiction, was excluded from the law on the basis that the parent company was regulated in its home jurisdiction.