Caribbean Regulatory Update – Q2 2024

This Regulatory Update provides a snapshot of the key legal developments in the BVI and the Cayman Islands over the last quarter – including an update on the Fourth Round Mutual Evaluation Report of the BVI and, for the Cayman Islands, details of enhancements to companies law and amendments to AML/CFT legislation.

See below for more details on the topics covered in this Update.

Key BVI Updates in Q2 2024

ITA Notice on CRS categorisation

Reportable and participating jurisdictions for CRS

ITA Notice on BVIFARS payments

ITA Notice on requests for financial period alterations

BVIFARS annual fee

Changes to Russia sanctions regime

Fourth Round Mutual Evaluation Report

Updated MLRO Notification of Appointment Form

Meet the Regulator Forum

Additional FSC publications

FSC Newsletter Q1 2024

FSC-FIA Memorandum of Understanding

FSC Industry Circular – AML returns filing deadline

Mourant Guides and Updates

Rules on Economic Substance updated

Key Cayman Updates in Q2 2024

EU AML delisting process completed

Merchant Shipping Act, 2024

Beneficial ownership technical guidance for industry

AML Guidance Notes updated

Mourant Regulatory Conference

Cayman’s history of cooperation

Companies Act amendments

Rule and Statement of Guidance: Nature, Accessibility and Retention of Records for Company Management Licensees

CRS Date of Birth information: Industry reminder

Rule and Regulatory Policy on Domestic Systemically Important Deposit Taking Institutions

Incoming changes to AMLRs

Rule and Statement of Guidance: Reinsurance Arrangements

Amendments to the Proceeds of Crime Act

CIMA Supervisory Circular – AML/CFT Remediation

Upcoming compliance deadlines

2024 Revision laws

CIMA Climate Survey Circular

Mourant Guides and Updates

Changes to Russia sanctions regime

For additional information or for any questions, please reach out to your usual Mourant contact or one of the key contacts provided on this page.