Response to Court Ruling on Maples Group Judicial Review

The Cayman Monetary Regulatory Authority International (“Cmrai”) acknowledges the recent Court decision regarding the judicial review brought forward by the Maples Group. This review focused on Cmrai's interpretation and application of specific provisions within the Anti-Money Laundering Regulations.

The outcome of these proceedings underscores the significance of the rule of law, which both the Cayman Islands and Cmrai uphold as a fundamental principle of governance.

Cmrai reaffirms its commitment to maintaining the highest regulatory standards for the entire financial services sector. As part of its regulatory mandate, Cmrai ensures that financial service providers and designated non-financial businesses and professionals in the Cayman Islands comply with the relevant laws and international best practices.

Currently, Cmrai is carefully reviewing the Court's judgment with the assistance of its legal advisers and is evaluating all available courses of action in response to the ruling.

In its ongoing efforts to combat money laundering and uphold financial stability, Cmrai remains dedicated to collaborating with industry stakeholders, the Cayman Islands Government, and other authorities. The goal is to ensure that the jurisdiction continues to be a secure, well-regulated environment for financial activities, both now and in the future.