On 16 February, the Cayman News Service reported that the Registrar of Companies has begun fining companies registered here that have failed to submit accurate information on their ultimate beneficial owners and ignored warning letters to do so, with 19 administrative fines of $5,000 against companies for noncompliance.  The Ministry of Financial Services also noted that TCSP can also be fined in relation to beneficial ownership noncompliance if they do not fulfil their legal responsibilities to file restriction notices that curb companies’ abilities to conduct certain business activities if they have not provided the ownership information.  As of 1 February, the Registrar had issued warning letters to 18 TCSP that had not filed restriction notices.

I would be grateful for any modest contribution for my time and ongoing costs of computer, relocation, and (still ongoing) removal costs, I have a page, where contributions start as low as $3, at

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

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