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Banking & Financial Services

11 August 2020
James Heinicke Administrative fines regime extended

Cayman Islands - Ogier

The Monetary Authority (Administrative Fines) (Amendment) Regulations 2020 recently came into force, extending the administrative fines regime beyond breaches of the Anti-money Laundering Regulations to a much broader spectrum of breaches under various Cayman regulatory laws. Of particular interest to Cayman bank licensees will be how breaches of the Banks and Trust Companies Law will be treated under the regulations.

Authors: James Heinicke, James Lydeard, Cornelia Zhu
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