Enhanced AML regime puts Cayman on firm footing to oversee digital asset growth

In hedgeweeks, Cayman Islands Hedge Fund Services 2019, managing editor James Williams interviewed partner Caroline Heal and senior counsel Ed Pearson. The resulting article focussed on the Cayman AML regime and digital asset growth. 

The last 12 months has certainly seen Cayman continue to implement global best practices to meet the expectations of international regulators as it seeks to uphold its reputation as the world’s leading offshore jurisdiction. CIMA has enhanced its anti-money laundering (AML) regime which takes a risk-based approach and clarified that unregulated closed-ended funds, such as private equity and real estate funds, must comply with the AML regime.

“The main regulatory development in 2018 was a series of refreshments to the Cayman AML regime. It’s mostly been a series of helpful clarifications on points and questions that we were asked to advise on frequently,"  says Caroline Heal, Partner, Walkers’ global Investment Funds group. 

To view full article, click here