On 13th December 2017 the Cayman Islands Monetary Authority (“CIMA”) issued their updated Guidance Notes under the new Anti-Money Laundering Regulations, 2017 (“AML Regulations”) which came into force on 2nd October 2017.

Further to prolonged industry consultation, CIMA issued further clarification on 29th March, 2018 confirming that all Cayman domiciled entities carrying out relevant financial business will be required to appoint a named AML. Compliance Officer (“AMLCO”), Money Laundering Reporting Officer (“MLRO”) and a Deputy MLRO (“DMLRO”).

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