Colin MacKay, regional commercial director in Caribbean and
Latin America, assesses what Cayman's AML regulations mean for
businesses on the island.
The Cayman Anti-Money Laundering Regulations, 2017 (the
Regulations) were introduced to strengthen the Cayman regulatory
framework and maintain adherence with developing international
standards. Under the Regulations, Cayman domiciled regulated
investment funds require to appoint a money laundering reporting
officer (MLRO), deputy money laundering reporting officer (DMLRO)
and anti-money laundering compliance officer (AMLCO), aspects which
require the attention of investment managers and fund boards.
However, the Regulations apply to a broader range of entities
and activities than just those performed within the regulated
investment fund space. With implications for private equity,
venture capital, family office and capital markets structures, it
is important to recognise the Regulations apply on the basis of
