Cayman MLRO and Anti-Money Laundering Compliance
Outsourced anti-money laundering (AML) solutions offering for Cayman funds
Have you appointed a Cayman MLRO yet? – Following the Cayman Islands Monetary Authority (CIMA) requirement to appoint an AML Compliance officer (AMLCO), Money Laundering Reporting Officer (MLRO) and a Deputy MLRO for Cayman domiciled funds, we have developed a comprehensive services offering, including the relevant appointments of regulatory experts, and the relevant compliance monitoring program.
The ongoing anti-money laundering compliance environment in the Cayman Islands continues to be a key issue for the financial services industry, particularly with the introduction of a raft of new legislation* recently. There are an increased number of funds looking to outsource their AML controls to a suitably qualified third-party provider – an effective and efficient way to ensure that all obligations are met. Our service offering comes at a critical time for many financial firms domiciled in the Cayman Islands and we look forward to working collaboratively with them to ensure that they meet all of their regulatory needs.
We provide comprehensive AML solutions designed to help you be compliant with the latest Cayman Islands AML regulations:
- Money Laundering Reporting Officer (Cayman MLRO)
- AML Compliance Officer
- AML infrastructure program
- Provision of Cayman MLRO, AMLCO and AML review program
Contact us today! You can be supported by a leading team of investment, risk and compliance professionals.
Lawson Conner scope of Cayman AML Compliance services
- Provision of qualified and experienced individuals to accept appointments as Cayman MLRO, AMLCO and DMLRO
- Provision of Cayman compliant and entity-specific AML policies and procedures
- Acting as point of contact with the regulator – CIMA
- Provide AML compliance oversight of the entity’s investment activity and investor-related AML activity
- Establishing and maintaining appropriate systems and controls to ensure AML compliance
- File Suspicious Activity Reports (SARs)
- Maintain SAR registers
- Train employees on AML reporting procedures
- Facilitating and managing regular audits/testing of the entity’s AML program and KYC documentation
- Ensuring procedures are in place and employees are aware of procedure for reporting of suspicious activity to Cayman MLRO / DMLRO
- Maintaining AML logs relating to specified scenarios such as rejection of subscriptions, investor account freezes and enhanced due diligence on PEPs and other high risk investors
- Advising the entity’s management (board/general partner) of AML compliance issues and periodically updating the board on the state of the entity’s AML programs and controls
- Conducting risk assessments, adopting procedures to mitigate and monitor risks and reviewing periodically
Contact us to discuss how we can get your Cayman fund supported and find the best solution for you.
* The Cayman Islands Monetary Authority (“CIMA”) has noted that for a Cayman Islands investment entity to comply with the Anti-Money Laundering Regulations (2018 Revision) (“AML Regulations”), it must designate a natural person, at managerial level, to act as its Anti-Money Laundering Compliance Officer (“AMLCO”), Money Laundering Reporting Officer (“MLRO”) and Deputy Money Laundering Reporting Officer (“DMLRO”). >> Read more…
Regulated services are provided by either G10 or Sapia which are authorised and regulated by the Financial Conduct Authority of the United Kingdom. Lawson Conner Services a compliance services firm and provides non regulated services.