Compliance & Anti-Financial Crime
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CAYMANS: First fines for beneficial ownership violations as Islands align with FATF standards

The Cayman Islands has started imposing fines on companies that violate beneficial ownership rules – nearly four years after the law requiring registrations came into force.

The Registrar of Companies (RoC) – the Cayman watchdog for corporate entities – has said that by 1st February this year it had issued 19 fines of $5,000 to companies operating within the territory.

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