Claritas were delighted to welcome clients, industry professionals, and members of the Cayman Islands business community, as well as representatives from CIBFI, the LSSA, CIIPA, the FRA and the Sanctions Unit to our fifth annual Regulatory Breakfast Seminar, held at the George Town Yacht Club.
The event provided attendees with an opportunity to hear from our team on key legal, regulatory, and compliance developments impacting Cayman Islands businesses.
Highlights of the past year included:
Beneficial ownership and legitimate interest applications (7/12 approved in first 14 months)
The DAML SAR regime (84% granted prior to deemed consent)
Enforcement actions taken by CIMA
The two new CIMA Rules
Freezing crypto assets via the courts
Recent court decisions (victims and jurisdiction)
Horizon scanning covered:
The upcoming Cayman Islands Fifth Round Mutual Evaluation
The United States National Risk Assessment findings (Chinese ML networks, fraud, TF threats)
Virtual Assets and Virtual Asset Service Providers (11 registered VASPs and 8 licensed VASPS currently operating in the Cayman Islands)
Sanctions risks, Iran
AI
As this seminar reaches its fifth year, we are proud to see the strong support received from our clients, colleagues, and industry partners. The success of the seminar reflects our ongoing commitment to providing relevant, practical, and accessible guidance to the Cayman Islands business community.
We extend our sincere thanks to everyone who attended and contributed to the discussions, helping to make the event both informative and engaging.
We look forward to continuing these conversations and to welcoming attendees to future Claritas events.
