Tag: CIMA

Glidden confirmed as CIMA’s banking boss

Glidden confirmed as CIMA’s banking boss

| 19/01/2017 | 0 Comments

(CNS Business): The acting head of the Banking Supervision Division at the Cayman Islands Monetary Authority has been confirmed in the post. On 1 January Gloria Glidden was given the official title for a job she has be doing since last year. Officials said she would continue to provide supervisi [...]

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CIMA releases 2015 Investments Statistical Digest

CIMA releases 2015 Investments Statistical Digest

| 09/01/2017 | 0 Comments

(CNS Business): The Cayman Islands Monetary Authority (CIMA) has released the 9th edition of the Investments Statistical Digest, which outlines the information that is required to be filed by all regulated funds via the Funds Annual Return (FAR), through CIMA’s electronic reporting systems, up [...]

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Cayman holds bank de-risking discussions in DC

Cayman holds bank de-risking discussions in DC

| 09/01/2017 | 1 Comment

(CNS Business): Ministry of Financial Services and Cayman Islands Monetary Authority (CIMA) officials recently held a second round of meetings in Washington DC with key US Congressional staff, regulators and stakeholders about bank de-risking from the Caribbean perspective. The Cayman officials t [...]

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CIMA appoints temporary banking boss

CIMA appoints temporary banking boss

| 14/09/2016 | 2 Comments

(CNS Business): Still plagued by staff shortages, including holes in its management team, the Cayman Islands Monetary Authority has appointed Gloria Glidden as the acting head of itsbanking supervision division. Glidden will take up the job on 1 October following the resignation of the current bo [...]

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Ex CIMA compliance boss moves to FRA

Ex CIMA compliance boss moves to FRA

| 16/08/2016 | 4 Comments

(CNS Business): Robert James Berry, the former head of compliance at the Cayman Islands Monetary Authority, has been appointed as the director of the Financial Reporting Authority (FRA). Berry, an anti-money laundering expert who worked in private banking before he joined CIMA, has move to the g [...]

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Deputy takes over as compliance boss at CIMA

Deputy takes over as compliance boss at CIMA

| 02/08/2016 | 4 Comments

(CNS Business): After ten years as deputy, Audrey Roe has been promoted to head of the Compliance Division at the Cayman Islands Monetary Authority. Now leading one of CIMA’s most important divisions, she has also assumed the role of money laundering reporting officer for the authority. Wi [...]

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Fugitive’s company closed down over $1.69M debt

Fugitive’s company closed down over $1.69M debt

| 26/07/2016 | 10 Comments

(CNS Business): A company owned by a man wanted by local police for a violent crime has been wound up by the Grand Court after a creditor in the British Virgin Islands tried and failed for more than six months to get back almost $1.7 million he had on account with B & C Capital Ltd. Ryan Bat [...]

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CIMA finally fills top insurance post

CIMA finally fills top insurance post

| 21/07/2016 | 1 Comment

(CNS Business): After several years without a leader at the helm of the Cayman Islands Monetary Authority’s insurance division, the regulator has finally filled the post. Following an open competitive recruitment process Ruwan Jayasekera has been confirmed as the new head of the department. Gi [...]

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CIMA reveals deal with Gibraltar in wake of Brexit

CIMA reveals deal with Gibraltar in wake of Brexit

| 05/07/2016 | 2 Comments

(CNS): The Cayman Islands Monetary Authority (CIMA) has signed a memorandum of understanding with the Gibraltar Financial Services Commission in the wake of  the UK’s recent referendum on leaving the European Union, the results of which impacted both territories. CIMA officials said the deal [...]

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CIMA signs deal with Abu Dhabi

CIMA signs deal with Abu Dhabi

| 29/06/2016 | 0 Comments

(CNS Business): The Cayman Islands Monetary Authority (CIMA) has signed a deal with the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM), creating a framework for mutual assistance and exchange of information. CIMA said the Memorandum of Understanding (MoU) would [...]

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De-risking threatens US dollar access for Cayman Banks

De-risking threatens US dollar access for Cayman Banks

| 05/04/2016 | 8 Comments

(CNS Business): De-risking by US banks, which left the overseas money transfer services firms unable to operate in Cayman for some time last year, still threatens to cause a much bigger crisis for the financial services industry, with the practice of closing bank accounts deemed to be too risky [...]

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Cayman National ‘regrets’ affiliates’ tax scandal

Cayman National ‘regrets’ affiliates’ tax scandal

| 10/03/2016 | 17 Comments

(CNS Business): Cayman National Corporation (CNC) was quick to pass off revelations that its subsidiaries had, for more than ten years, assisted US account holders in massive tax evasion as an historic issue that impacted lots of other banks around the world. In a statement Thursday the corpora [...]

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Caledonian makes ‘no fine’ secret deal with SEC

Caledonian makes ‘no fine’ secret deal with SEC

| 19/12/2015 | 25 Comments

(CNS Business): A confidential circular sent to the creditors of the Caledonian Bank Limited (CBL), which was brought down following an investigation by the US Securities and Exchange Commission (SEC), has revealed that despite the probe bringing the Cayman-based bank to its knees, there will be [...]

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Captive industry still awaits CIMA figurehead

Captive industry still awaits CIMA figurehead

| 07/12/2015 | 4 Comments

(CNS Business): As CIMA updated delegates at the Cayman Captive Forum on its licensing activity and regulatory developments, it was unable to provide the update that many international clients have been waiting for, which is a new head of insurance supervision. Morag Nicol has been acting head o [...]

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CIMA under fire in Caledonian saga

CIMA under fire in Caledonian saga

| 23/11/2015 | 22 Comments

(CNS Business): The Cayman Islands Monetary Authority (CIMA) is in the firing line for failing to support Caledonian, as the fallout from the bank’s collapse continues. Published court documents showed there was no need for the freezing order on its US assets, which ultimately led to Caledonia [...]

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