New CIMA fines and TIA offence in force in the Cayman Islands
The Monetary Authority (Administrative Fines) (Amendment) Regulations, 2020 was enacted on 26 June 2020 extending the ability of the Cayman Islands Monetary Authority (CIMA) to impose significant fines.
It is now also an offence for knowingly or wilfully supplying false or misleading information to the Cayman Islands Tax Information Authority (TIA).