Full details are now available of the penal powers now available to the Cayman Islands Monetary Authority (CIMA) under regulations that came into force on 26 June 2020. CIMA can now impose administrative fines for breaches of laws concerning banks and trust companies, money laundering, company management, director registration, insurance business, money services, mutual and private funds, and securities investment business. Penalties for individuals range from USD6,100 to USD122,000, and up to USD1.2 million for entities.
News Source：【Maples Group 2020/07/13】