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Private Sector Consultation Paper on Proposed Rule and Statement of Guidance (19 August 2015)

Dear Members,

19 August 2015

The Cayman Islands Monetary Authority are launching a consultation on the Corporate Governance, copies of which are on the below links:

Private Sector Consultation– Corporate Governance 
Statement of Guidance – Corporate Governance
Cover Letter

(click these links for the PDFs) 

In relation to the Statement […]

Cayman Moves Forward with Implementing the CRS – 16 June 2015

The Department of International Tax Cooperation (DITC) is moving forward with implementing the

Common Reporting Standard (CRS), via the introduction of local regulations, by October 2015.

In anticipation of the local regulations for CRS, financial institutions may wish to begin preparations

for new account opening procedures from 1 […]

23 June 2015

AUDITED FINANCIAL STATEMENTS AND FUND ANNUAL RETURN (“FAR”)

FILING DEADLINE EXTENSION

Funds with a financial year end (“FYE”) of 31 December 2014 are required to file audited

financial statements and a FAR form through the Authority’s REEFS Portal

https://reefs.cimaconnect.com by 30 June 2015. However, the filing deadline has been

extended by one (1) month to 31 July 2015 […]

AUDITED FINANCIAL STATEMENTS AND FUND ANNUAL RETURN (“FAR”) FILINGS

REPORTING PORTAL NOW OPEN

The Authority’s REEFS Portal https://reefs.cimaconnect.com will be used to file FAR forms

for funds with a financial year end of 31 December 2014 or later. The new FAR form is

available in Excel format and has been revised to allow submission through the REEFS

Portal.

For funds with […]

Dear Members.

You will recall that in November 2014 The Cayman Islands Monetary Authority (“CIMA” or the “Authority”) issued a consultation paper on the cancellation of licences and certificates of registration of mutual funds (copy attached).

The final version of the Rule and Regulatory Procedure (the “Rule”) was gazetted on March 30, 2015.

One area of possible concern […]

C A Y M A N  I S L A N D S

MONETARY AUTHORITY

CIMA Statement on AIFMD Passporting Regime.

The Cayman Islands Monetary Authority (“CIMA”) is aware that the European Securities Markets Authority (“ESMA”) is due to make a recommendation in late July 2015 concerning the marketing of non-EU funds within the EU by way of a passporting […]

Cayman Islands AEOI Portal Update: 20 May 2015 

Department of International Tax Cooperation staff advise industry members that notifications may be submitted on or before Friday, 29 May 2015; and returns may be reported on or before Friday, 26 June 2015, without attracting adverse consequences or enforcement measures.

If you experience an issue with the portal, the […]