Consultation

The Cayman Monetary Regulatory Authority International (Cmrai) recognizes that the success of its initiatives largely depends on the collaboration of licensees with Cmrai in their implementation.

Consultation Measures

Consultation with the private sector is necessary when issuing or amending:

• Rules or statements of principle or guidance regarding the conduct of licensees, their officers, and employees
• Statements of guidance related to the requirements of money laundering regulations
• Rules or statements of principle or guidance aimed at reducing the risk of financial services being used for money laundering or other criminal activities

Form of Consultation

Proposed consultation measures are sent to private sector associations along with:

• An explanation of the purpose behind the measure
• The reasoning for the measure
• A description of how other countries and territories have adopted similar measures
• An estimate of the associated costs and benefits

The standard consultation period is 30 days.

Current Consultation Matters

There are currently no matters open for consultation.

Visit our prior consultation page to view measures that have been previously issued.