Tag: CIMA
ICO phenomenon demands regulatory attention
(CNS): After Bitcoin took investors on a rollercoaster ride last year, 2018 is shaping up to be the Cayman Islands’ biggest year for cryptocurrency funded startups — known as initial coin offerings (ICOs) — as companies around the world look to cash in on the digital asset explosion. Against this burst of activity, however, questions […]
Fake $25 and $100 bills in local circulation
(CNS): The RCIPS Financial Crimes Unit and the Cayman Islands Monetary Authority collected a number of counterfeit notes last week and they are warning the public to keep alert for the forged cash. The denominations are $25 and $100, all from the “D” series, and the notes seized so far have the same serial number D/1194318 […]
Caledonian makes ‘no fine’ secret deal with SEC
(CNS Business): A confidential circular sent to the creditors of the Caledonian Bank Limited (CBL), which was brought down following an investigation by the US Securities and Exchange Commission (SEC), has revealed that despite the probe bringing the Cayman-based bank to its knees, there will be no fines levied against the institution over the alleged […]
Bank calls in auditors over FIFA scandal
(CNS): Fidelity Bank has called in auditors in the wake of allegations made by the US authorities that it may have played a part in the possible laundering of the alleged bribes and kickbacks at the centre of the FIFA scandal. Officials from Fidelity said they had “engaged Deloitte Cayman to conduct an independent review […]
CIMA boss isolated from FIFA-related probe
(CNS): Updated: Government officials have clarified that the local regulator has set up an internal unit that will report to the non-executive board, and not the CIMA managing director, to investigate the allegations made about a local bank and other offshore entities registered here in the ongoing FIFA corruption scandal. But despite family connections, CIMA MD Cindy […]
