CAYMAN ISLANDS EXEMPTS REGISTERED PERSONS FROM COMPANY BENEFICIAL OWNERSHIP RULES

On 29 June, STEP reported that Cayman Island companies classed as ‘registered persons’ will be exempted from the beneficial ownership reporting obligations imposed by the Companies Law or the Limited Liability Companies Law. They include the nearly 3,000 financial institutions previously known as ‘excluded persons’ under the Securities Investment Business Law (SIBL) and which were allowed to offer securities investment services to sophisticated and high-net-worth individuals without obtaining a licence.  They do have some new ongoing obligations under the SIBL.

https://www.step.org/industry-news/cayman-islands-exempts-registered-persons-company-beneficial-ownership-rules

 

 

 

If you would like to say thanks by making a small contribution, in case I need to upgrade or replace my computers and other paraphernalia, I have a page at https://www.buymeacoffee.com/KoIvM842y

 

 

 

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s