News & Analysis as of September 18, 2024

Cayman Islands

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The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of WWII. The EU maintains a common currency as well as several intranational institutions, including the European Parliament and the European Commission. less -

केमैन आइलैंड का EU की एंटी-मनी लौंडरिंग सूची से बाहर निकलना

Conyers on 5/21/2024

केमैन आइलैंड को EU की एंटी-मनी लौंडरिंग सूची से बाहर निकालने की पूरी तैयारी हो चुकी है। यह कार्रवाई वित्तीय एक्शन टास्क फोर्स (Financial Action Task Force, FATF) निगरानी समूह के 27 अक्तूबर 2023 के फैसले के बाद और फिर उसके बाद...more

Regulatory & Risk Advisory Review: Cayman Islands – January to March 2024

Conyers on 5/1/2024

Welcome to the first instalment of 2024 of our Cayman Islands Regulatory & Risk Advisory Review. As we cover in this issue, there have been a number of updates in the first quarter of the year. Perhaps most notably is the...more

Regulatory & Risk Advisory Outlook 2024: Cayman Islands

Conyers on 2/15/2024

2023 was an active year for the Cayman Islands regulatory industry. While we have endeavoured to keep you updated throughout the year with our Regulatory & Risk Advisory Reviews, our team has highlighted below the key changes...more

Caymans come off AML risk lists, signaling robust controls

Walkers on 2/9/2024

Associating the Cayman Islands with money laundering has been a staple of film and television, from "The Firm" in the 1990s to, more recently, "Better Call Saul." However, scriptwriters may need to find another location...more

Cayman Islands Removal from the EU Anti-Money Laundering List

Conyers on 2/9/2024

The Cayman Islands is now set to be removed from the EU anti-money laundering (AML) list. This action follows the decision of the Financial Action Task Force (FATF) monitoring group on 27 October 2023 and subsequent removal...more

EU Securitisation Regulation: good news for Cayman SSPEs

A&O Shearman on 1/22/2024

As the EU removes the Cayman Islands from the EU AML/CFT blacklist with effect from 7 February 2024, concerns and barriers for EU sell- and buy-side parties on securitisations involving Cayman SSPEs fall away....more

Welcome to 2024: CWT’s European Fund Finance Market Insights January 2024 - Cayman Moves Closer to a List-Free Summer!

Cadwalader, Wickersham & Taft LLP on 1/8/2024

The Cayman Islands recently received an early Holiday gift when the EU Commission published a regulation in mid-December paving the way to remove Cayman from its list of ‘high-risk’ countries for AML/CFT purposes. The...more

Regulatory & Risk Advisory Review: Cayman Islands – August to October 2023

Conyers on 11/22/2023

Welcome to the third instalment of our Cayman Islands Regulatory & Risk Advisory Review. As we cover in this issue, there have been a number of exciting developments, including the welcome news of the Financial Action Task...more

EU Regulatory Technical Standards on Risk Retention Finalized

Dechert LLP on 11/8/2023

After years of waiting and multiple drafts, the final version of the EU Regulatory Technical Standards on risk retention was published in the Official Journal of the European Union on 18 October 2023. In addition, we have...more

FATF Removes Cayman Islands from Grey List

Conyers on 11/8/2023

Oct 2023 This decision was announced on 27 October at the closing of the FATF’s plenary meetings in Paris, France. The FATF announcement confirmed that the Cayman Islands maintains a robust and effective anti-money...more

Update on the Removal of the Cayman Islands from the FATF's List of Jurisdictions Under Increased Monitoring - Update

Walkers on 10/30/2023

Following the conclusion of the most recent plenary of the Financial Action Task Force ("FATF") on 27 October 2023, the FATF has announced that the Cayman Islands has been removed from the FATF's list of "jurisdictions under...more

Summertime Reflections July 2023 - Cayman Islands Achieves Significant Milestone in Removal Process from ‘AML Grey List’

Cadwalader, Wickersham & Taft LLP on 7/7/2023

While the Cayman Islands’ current inclusion on the FATF “Grey List” and the EU “Black List” for AML purposes is not of material relevance to transactions in the fund finance world, the Cayman Islands recently received some...more

Update on the Removal of the Cayman Islands from the FATF's List of Jurisdictions Under Increased Monitoring

Walkers on 6/28/2023

Following the conclusion of the most recent plenary of the Financial Action Task Force ("FATF") on 23 June 2023, the FATF has announced that it has made the initial determination that the Cayman Islands has substantively...more

FATF Compliance - EU Confirms No Additional AML-CFT Measures for Cayman

Conyers on 7/29/2022

The Cayman Islands recently introduced measures to further improve its technical compliance with the 40 Financial Action Task Force (“FATF”) recommendations relating to anti-money laundering and countering the financing of...more

Proposed Addition of the Cayman Islands to the EU’s High Risk Third Countries List (the “EU AML List”)

Conyers on 3/29/2022

On 7 January 2022, the European Commission adopted a delegated regulation (the “Regulation”) proposing revision of its EU AML List to add nine countries, including the Cayman Islands. The EU AML List is the EU’s list of...more

EU AML List Will Add The Cayman Islands

Cadwalader, Wickersham & Taft LLP on 3/17/2022

On February 21, 2022, Commission Delegated Regulation was published in the Official Journal of the European Union which will add the Cayman Islands to the list of countries that have been identified by the European Commission...more

Views and News - February 2022 | Issue No. 161 - List’en Up – Cayman and the EU AML List – A Lender Update

Cadwalader, Wickersham & Taft LLP on 2/4/2022

As avid LinkedIn users will no doubt be aware, the EU’s focus on lists of various types continues and the Cayman Islands looks set to be added to the EU’s list of “high risk countries” for anti-money laundering at the end of...more

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