Tag: Russia Sanctions Regime
Cayman freezes US$8.35B of assets under Russian sanctions
(CNS): The Cayman Islands Government (CIG) established a Russia Sanctions Task Force on 16 March 2022, almost two years ago. The task force, known as Operation Hektor, is chaired by Financial Reporting Authority (FRA) Director R.J. Berry. It was formed to coordinate, identify, and make policy amendments to implement sanctions on the Russian regime.
General Licence issued to protect fund investors
(CNS) The governor has issued the first General Licence under the Russia Sanctions Regime for the Cayman Islands, which officials said allows multiple parties to undertake specified activities that would otherwise be prohibited by the Modified Regulations. An industry expert told CNS that, subject to certain requirements, this licence allows relevant investment funds to redeem, […]
