Jersey Financial Services Commission And Cayman Islands Monetary Authority Sign Memorandum Of Understanding

The Jersey Financial Services Commission (the Commission) and the Cayman Islands Monetary Authority (CIMA) have signed a memorandum of understanding (MOU) that aims to further co operation between them. The MOU came into effect on 21 August and establishes a

By None

The Jersey Financial Services Commission (the Commission) and the Cayman Islands Monetary Authority (CIMA) have signed a memorandum of understanding (MOU) that aims to further co-operation between them.

The MOU came into effect on 21 August and establishes a formal framework for mutual assistance and the exchange of information between the two regulators within the laws of each jurisdiction. This is to protect investors and depositors.

“I am delighted that we have been able to conclude formal arrangements for sharing regulatory information with a jurisdiction with which Jersey has many business links,” says David Carse, the Director General of the Commission. “This is in line with the Commission’s commitment to developing cross border co-operation wherever it is relevant to do so.”

“This is one of a number of memoranda of understanding that the Cayman Islands Monetary Authority has successfully negotiated as part of its objective of enhancing co-operation with regulators around the world,” adds Cindy Scotland, the Managing Director of CIMA. “We are confident it will serve to further the good relations existing between CIMA and the Commission.”

«