The Cayman Islands has published a new version of its Beneficial Ownership Transparency Act, along with promises to 'enhance its beneficial ownership framework' by the end of 2024 in accordance with its updated commitment to the UK. The 'new commitment' will restrict public access to the registry to those who meet a 'legitimate interest' test. Separately, last month both the European Commission and the UK removed the Cayman Islands from their lists of jurisdictions with inadequate money laundering controls, following a similar reclassification by the Financial Action Task Force in October 2023.
News Source：【STEP International News 2023/12/14】