Notification Of The Appointment Of AML Officers

Notification of the Appointment of AML Officers
Dec 10, 2018

(CIMA Extends Deadline in Respect to Funds)

We previously informed you of the September 30, 2018 deadline imposed by the Cayman Islands Monetary Authority (CIMA) in respect to a regulated fund’s appointment of an Anti-Money Laundering Compliance Officer, Money Laundering Reporting Officer (“MLRO”) and Deputy MLRO (collectively the “AML Officers”).  However, CIMA has just announced an extension of the aforementioned deadline to December 31, 2018.  Each regulated fund is now required to complete the requisite form(s) for each appointee and submit it via CIMA’s REEF portal by December 31, 2018. 

It is important to note that unregulated funds have similar obligations to appoint AML Officers as outlined above and should have these appointments in place by December 31, 2018.  Nevertheless, unregulated funds are not at this point required to confirm such appointments to CIMA.

CIMA has further advised that it is currently collating the results of its consultation on the Guidance Notes on the Prevention and Detection of Money Laundering in the Cayman Islands and will in due course issue any necessary amendments to the guidance notes which we will in turn distribute to our valued clients. 

Download PDF