On 9 August 2019, the Cayman Islands Monetary Authority (CIMA) published a Notice to Industry to remind all persons currently registered as excluded persons under the Securities Investment Business Law (2019 Revision) (SIBL EPs) of their obligation to file AML/CFT Reporting Forms (AIR-157-75 and ARC-158-75) by 15 August 2019

The notice states that in the event that the SIBL EP does not provide the required information to CIMA by 15 August 2019, they will be de-registered as a SIBL EP.

We are liaising with CIMA regarding the potential impact of this advice, however in the interim we would strongly encourage you, to the extent not done so already, to ensure that the forms are completed fully and returned to your Cayman Islands registered office and legal counsel as soon as possible. 

In the event a SIBL EP is de-registered, it will need to re-register before it can undertake SIBL regulated activities in the Cayman Islands.  If you have any questions, please feel free to reach out to me or your usual Walkers contact.