Cayman Islands:
Update For SIBL Registered Excluded Persons
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The Securities Investment Business (Amendment) Law, 2019
("SIBL Amendment"), is now in force. It
amends the Securities Investment Business Law (2019 Revision)
("SIBL") in response to global standards
and adjusts the regime for persons which carry on securities
investment business but have been excluded from SIBL's
licensing requirements under Schedule 4 ("Excluded
Persons"). The Cayman Islands Monetary Authority
("CIMA") has issued a notice to Excluded
Persons on its website to reflect the SIBL Amendment, requiring
Excluded Persons to submit two AML/CFT reporting forms
("AML/CFT Forms") by 15 August 2019.
This advisory provides a summary of the key points.
Click to view
advisory
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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