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The Cayman Islands is a leading financial services centre.. Cayman Islands company law is primarily codified in the Companies Law (2018 Revision) and the Limited Liability Companies Law, 2016, [1] and to a lesser extent in the Securities and Investment Business Law (2015 Revision).
The Cayman Islands Monetary Authority (CIMA) is the primary financial services regulator of the Cayman Islands and supervises its currency board. [2]The CIMA manages the Cayman Islands currency, regulates and supervises financial services, provides assistance to overseas regulatory authorities and advises the Cayman Islands government on financial-services regulatory matters.
The CDD rule enhances CDD requirements for "U.S. banks, mutual funds, brokers or dealers in securities, futures commission merchants, and introducing brokers in commodities. [3]" The CDD rule requires that financial institutions identify and verify the identity of customers associated with open accounts. The CDD rule has four core requirements: [3]
The Cayman Islands Society of Professional Accountants (CISPA) is a professional association of accountants in the Cayman Islands, a British Overseas Territory in the Caribbean. CISPA is responsible for licensing accounting practitioners, supports education of accountants and participates in decisions about the financial industry in the ...
The Cayman Islands is the fifth-largest banking centre in the world, [16] with $1.5 trillion in banking liabilities as of June 2007. [14] In March 2017 there were 158 banks, 11 of which were licensed to conduct banking activities with domestic (Cayman-based) and international clients, and the remaining 147 were licensed to operate on an ...
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The Cayman Islands Department of Commerce & Investment, formerly known as the Cayman Islands Investment Bureau (until 2010), is a government agency that was established to promote investment in the Cayman Islands. The department offers several free services to foreign investors seeking to establish a business in the Cayman Islands.
In essence, they forced European banks, and, more importantly, the European Central Bank itself, to rely more than ever on the standardised assessments of "credit risk" marketed aggressively by two US credit rating agencies—Moody's and S&P—thus using public policy and ultimately taxpayers' money to strengthen anti-competitive duopolistic ...