Seminar to be followed by AGM

The Executive Committee of the Cayman Islands Compliance Association is pleased to invite you to a full day seminar to be held on Wednesday 19th March, 2014 at the Westin Hotel, Governors Ballroom. Attendance costs will be CI$150 per person for a member and CI$200 for a non-member. Online payments can be made to the CICA account at Butterfield Bank: CI$ a/c #02101034237 or US$ a/c #01201034237. Cheques should be made payable to C.I.C.A. and sent to Robin Jarvis, Butterfield Bank, P O Box 705, Grand Cayman KY1-1107. Please send your registration request to Robin Jarvis who can be contacted at Please see the agenda below:


  • Registration and Continental Breakfast 8:00 a.m. – 8:45 a.m.
  • Welcome and Overview 8:45 a.m. – 9:00 a.m. Martin Livingston, President of CICA
  • Corporate Governance/Directors presentation and Q & A 9:30 a.m. – 10:30 a.m. Jennifer Collins and Jennifer Parsons (Ogier)
  • Coffee break 10.30 a.m. – 10.45 a.m.
  • Practical Implications of US FATCA and UK equivalent 10:45 a.m. – 11:30 a.m. David Conen and/or Helen Dombowsky TBC
  • Tax Information Authority Update on the “Common Reporting System” and “AEOI” frameworks 11:30 a.m. – 12:15 p.m. Duncan Nicol (Director, Tax Information Authority) or Michelle Bahadur
  • Lunch 12:15 p.m. – 1:45p.m.
  • The Cayman Islands AML National Risk Assessment 2:30 p.m. – 3:15 p.m. Speaker TBC
  • Coffee break 3.15 p.m. – 3.30 p.m.
  • Interactive session and case analysis with CIMA, FRA and FCU 3:30 p.m. – 4:45 p.m. R J Berry (Head of Compliance, CIMA), Lindsay Cacho (Managing Director, FRA) and Detective Reuben Foster (FCU). Moderator: Martin Livingston
  • Closing remarks 4:45 p.m.– 5:00 p.m. Martin Livingston
  • CICA AGM 5:00 p.m. – 5:30 p.m.
  • Cocktails 5:30 p.m. – 7:00 p.m.

Cayman Islands Welcomes Outcomes of Independent Review on British Offshore Financial Centres

George Town, Grand Cayman – A comprehensive report issued today of the UK’s independent review of British offshore financial centres led by Michael Foot provides useful insights into the significance and contributions of the Cayman Islands and other UK offshore financial centres (OFCs).

“The Cayman Islands has supported several third-party reviews of our financial sector over the years and their outcomes have consistently provided valuable insights for all involved. This most recent review is no different and we welcome the constructive observations and recommendations put forth by the review team,” said Leader of overnment Business & Premier Designate, the Honourable McKeeva Bush.

Recognising the significance of OFCs to the UK and international markets, the report cited the Cayman Islands as, “the world’s leading centre for hedge funds and also a significant wholesale banking centre.” It also referenced the UK being the net recipient of funds flowing through OFCs.

Review leader Michael Foot and his team visited the Cayman Islands on 16-17 March 2009 for meetings with a cross-section of public and private sector representatives from the financial services sector. The Cayman Islands Government assisted the review team prior to the visit and provided further assistance for the duration of the review.

For more information

Ted Bravakis
Director, Public Relations Unit
Ministry of Financial Services
Phone +1 (345) 244 2266

Cayman Islands Advances Financial Sector Interests in Dubai

For more information

Ted Bravakis

Director, Public Relations Unit
Ministry of Finance
P +1 (345) 244 2266

Notes to Editors

A photo accompanies this release with the following caption:
Members of the Cayman Islands delegation following a reception at The Capital Club in the Dubai International Financial Centre, including (from left to right): Mr Cline Glidden Jr, MLA Deputy Speaker and Third Elected Member for West Bay; Mr Sandy Shipton, Executive Director, Wealth Management, Dubai International Financial Centre; Mr John Papesh, Economic Advisor to the Cayman Islands Government; the Premier, the Honourable McKeeva Bush; Mr Carson Ebanks, Chief Officer, Ministry of Finance, Tourism & Development

CICA Announces Discounts on ICA and ACAMS Qualifications


CICA is pleased to announce that it has again managed to negotiate a discount of 10% for those members who wish to undertake the following ICA diploma courses:-

  • ICA International Diploma in Anti Money Laundering
  • ICA International Diploma in Compliance
  • ICA International Diploma in Financial Crime Prevention

ACAMS and ICA Qualifications are recognised by regulators and education authorities around the world as a benchmark of competence and professionalism


The key benefits of studying an ICA Qualification are:

  • Improved Knowledge, developed skills
  • Professional designation
  • Career progression
  • Recognised mark of excellence
  • Eligible for Membership of the International Compliance Association on successful completion of a Diploma

For more information, brochures or to apply for a ICA course please click here

Furthermore CICA Members can now benefit from a 12% discount on certification and membership from the Association of Certified Anti-Money Laundering Specialists (ACAMS), see here for further details:

ACAMS Discount

Documents submitted to the membership for their comment

If your association has comments please forward a consolidated response on its behalf, on or before May 24, 2006.

Please note that a number of proposed Rules and a revised Statements of Guidance pertaining to the banking sector only are being issued for consultation simultaneously.

  • Consultation letter
  • Private Sector Consultation Paper
  • Rules on Credit Risk Management for Banks
  • Rules on Country and Transfer Risk Management for Banks
  • Rules on Interest Rate Risk Management for Banks
  • Rules on Investment, Securities, and Derivatives Risk Management for Banks
  • Rules on Liquidity Risk Management for Banks
  • Rules on Loan Loss Provision for Banks
  • Rules on Large Exposures and Credit Risk Concentration
  • Revised Statement of Guidance (“SoG”) on Large Exposures and Credit Risk Concentration

If your association has comments please forward a consolidated response on its behalf, on or before the 23rd June 2006.

30 March 2006 – Credit Risk Asset Classification

With respect to the comments received from the industry on the Statement of Guidance for Credit Risk Asset Classification, please see the attached response from the Cayman Islands Monetary Authority.

  • SOG for Credit Risk Asset Classification

Occassionally the membership of CICA will be asked to provide their comments on potential changes to legislation and regulation. Where CICA have been asked to circulate documents for consultation, they are provided below. Please provide your comments to

5 June 2007: Proposed Statements of Guidance

Proposing the following Statement of Guidance relating to the professional indemnity requirements of trust companies.

  • Consultation letter
  • Consultation SOG

CICA Sponsors UWC Cayman Islands

L to R; Martin Livingston, Tara Rivers, Madeleine Rowell, Robin Jarvis

The Cayman Islands Compliance Association (CICA) is pleased to announce that it has donated $5,000 towards UWC Cayman Islands scholarship fund. Present at the presentation of the cheque was this year’s successful applicant Madeleine Rowell who will attend the UWC in New Mexico, USA. Madeleine was selected by the United World Colleges (Cayman Islands) National Foundation from a number of candidates.

Martin Livingston, CICA President said “On behalf of our members, we are delighted to be able to assist the UWC Cayman Islands and we wish Madeleine every success in the future.”

This is the first time CICA has sponsored the UWC Cayman Islands. Last year CICA donated $5,000 towards the UCCI library and CICA has financially assisted a number of young Caymanians in attaining compliance qualifications.

Tara Rivers, UWC Cayman Islands Chairperson said, “We are very grateful that CICA has decided to contribute to the UWC Cayman Islands scholarship fund this year. We look forward to CICA’s continued support in years to come.”

Since 1984, over 60 young Caymanians have been awarded scholarships and have attended UWCs all over the world. Caymanian alumni have gone on to attend some of the world’s best universities and, most importantly, returned home to become business and community leaders. There are thirteen UWCs worldwide attended by students from over 80 countries. For more information about UWC see

ACAMS Discount for CICA Members

CICA Members to Receive 12% Discount on Certification and Membership from ACAMS

The Association of Certified Anti-Money Laundering Specialist (ACAMS) is extending an exclusive 12% discount on their Certified Anti-Money Laundering Specialist (CAMS) certification and membership. CICA is proud to be working with ACAMS to further the goal of global AML compliance.

To receive more information in joining our organization and pursuing your CAMS certification, please contact Denise Enriquez, the ACAMS Account Executive for the Caribbean Region, at 1-786-871-3014 or to receive your CICA discount. Use code CICAMEM-12 to take advantage of this exclusive offer.

The Association of Certified Anti-Money Laundering Specialists (ACAMS), formed in 2002, is a membership based organization that serves as a platform for protecting organizations in the complex anti-money laundering (AML) and counter-terrorist financing (CFT) fields as well as related areas in sanctions, financial crime and corruption. ACAMS offers training in the area of detection and prevention of money laundering and terrorist financing, educates professionals in private and government organizations, certifies the achievements of its members through the CAMS designation, and provides networking platforms through which AML/CTF professionals can collaborate with their peers throughout the world.

Today, ACAMS has grown to over 10,000 active global professional members in over 140 countries around world and the CAMS certification has become the international standard in the AML/CFT field. This certification is earned by professionals who qualify through educational and professional experience and successfully pass an examination that demonstrates their competence and professionalism.