May 2023
We are pleased to welcome you to Conyers’ Cayman Islands Regulatory & Risk Advisory Review, keeping you apprised of the latest regulatory news and developments.
The past few months have been a particularly active time for Conyers’ regulatory team, most notably relating to sanctions advice, duties of confidentiality, breach notices and investigations concerning data protection, queries regarding beneficial ownership register requirements and upcoming changes to same and economic substance reporting and compliance notice requirements. As we discuss in this newsletter, there has been a wave of new rules and statements of guidance from the Cayman Islands Monetary Authority now in effect (and coming into effect) covering areas such as outsourcing, record retention, cybersecurity, internal controls and corporate governance.
Assisting our clients to ensure ongoing compliance and safeguarding against enforcement actions (to include potential administrative fines) has never been more of a priority.
Should you have any queries or require further information, please contact a member of the regulatory team or your usual Conyers contact.