Cayman Islands: Assessment of the Supervision and Regulation of the Financial Sector—Volume I—Review of Financial Sector Regulation and Supervision

March 11, 2005

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Format: Chicago

Cayman Islands: Assessment of the Supervision and Regulation of the Financial Sector—Volume I—Review of Financial Sector Regulation and Supervision, (USA: International Monetary Fund, 2005) accessed November 25, 2024

Summary

This paper highlights key findings of the assessment of financial sector regulation and supervision in the Cayman Islands. The assessment reveals that in the last two years, an extensive program of legislative, rule, and guideline development in the Cayman Islands has introduced an increasingly effective system of regulation, both formalizing earlier practices and introducing enhanced procedures. The implementation of financial regulation and supervision complies broadly with standards in all the areas assessed. However, issues related to resources and potential breaches of operational autonomy affect the regulator and, hence, supervision in all sectors.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Banking, Crime, Financial institutions, Financial markets, Financial regulation and supervision, Insurance, Mutual funds, Stock markets

Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Banking sector, Business plan, Caribbean, Central America, CIMA director, CIMA license, CIMA note, CR, Financial system, Guidance note, Insurance, ISCR, Middle East, Mutual fund, Mutual funds, Regulatory authority, Risk assessment, South America, Stock markets

Publication Details

Pages:

58
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2005/091
Stock No:

1CYMEA2005001
ISBN:

9781451809732
ISSN:

1934-7685

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