The Cayman Island's financial servicesindustry, financial regulators, and the territory's Government are preparingfor a mid-2017 review of the territory's anti-money laundering regime by theCaribbean Financial Action Task Force.
Ahead of the long-planned inspection, anumber of new pieces of legislation have been passed or proposed to strengthenthe territory's defenses against money laundering and terrorist financing.
Changes include the recent repeal of theConfidential Relationships (Preservation) Law and proposed legislation toregulate non-profit organizations and non-financial services-related businesses(including real estate business and precious metals dealers).
Financial Services Minister Wayne Pantonsaid in May that while the Cayman Islands has been subject to periodic reviewsby the Financial Action Task Force, the one due to occur in the second half of2017 will be different from those the territory has experienced in the past.
"These new assessments are nolonger just about technical requirements," Panton said. "There willbe an assessment based on effectiveness [of the current regulatory system]. Ourview is we need to have that in place ahead of time."
来源：Wolters Kluwer 全球税务研究信息库