CICA

Tuesday, Feb 09th

Last update12:48:17 AM GMT


The Cayman Islands Compliance Association

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The Cayman Islands Compliance Association ("CICA") has been in existence since October 2000 as a not for profit organization. The formal objectives of CICA are to:

  • Provide members with the information to assist with the implementation and maintenance of effective compliance and anti-money laundering programmes in their respective financial services organisation
  • Provide an open forum for sharing information and training
  • Identify common practices in the financial services industry and seek to raise the level of compliance in the financial services industry
  • Provide a forum for discussion of new legislation or required best practice relevant to the Cayman Islands financial services industry
  • Offer information on compliance and anti-money laundering issues
  • Provide an interface between senior management of member financial services organisations and regulators and law enforcement agencies.

3rd Annual Gala Dinner

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The Compliance Association is pleased to announce its third Annual Gala dinner, an event designed to celebrate the successes of the Cayman compliance community over the last year.

The event is being held at the Wharf on the evening of 26 February 2010. It will include a reception and dinner as well as recognising our successful In d ternational Compliance Association scholarship recipients. After dinner you can dance under the stars at Boogie Nights.

Tickets for the event will be CI$100 per person or CI$1,000 for a table of ten. As well as raising the awareness and appreciation of the compliance function in Cayman, the event is also aiming to raise

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Amendment to the PCCL, the MLR and the Guidance Notes

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Please be advised that following receipt of Cabinet approval, a revised edition of the Guidance Notes for the Prevention and Detection of Money Laundering in the Cayman Islands has been issued and posted to the Authority's website along with a list of the changes.

May 2007 Guidance Notes and changes

In addition, please be advised that the definition of money laundering contained in the Proceeds of Criminal Conduct Law s37(7)(a) has been amended to include the financing of terrorism.

The Money Laundering Regulations have also changed; new requirements include greater

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