Proposed Directors Registration And Licensing Bill, 2014

The Cayman Islands Government published a bill on 21 March 2014 to announce its intention to introduce a registration and licensing regime for directors of certain regulated entities in the Cayman Islands.

The proposed bill is the Directors Registration and Licensing Bill, 2014 (Bill). The initial consultation period closed on 31 March 2014 and members of various industry bodies in the Cayman Islands have submitted initial comments on the Bill. The nature and extent of comments already made by practitioners and other stakeholders in response to this consultation will likely result in a number of changes to the text of the Bill and the scope of the registration regime.