CIMA Response to Coronavirus (2020-03-14)

Summary

This is a general industry notice issued by the Cayman Islands Monetary Authority (CIMA) on 14 March 2020 informing licensees and industry stakeholders of its initial response to the COVID-19 outbreak. It is an informational communication rather than a binding rule, describing internal precautionary measures CIMA has taken to protect staff and maintain continuity of its regulatory operations.

• Travel policy: CIMA has adopted a non-essential travel policy for staff during March 2020.
• Meetings: Use of audio/video conferencing is encouraged for meetings CIMA participates in.
• Business continuity plan: CIMA has activated elements of its business continuity plan allowing key staff to work remotely via a secure platform.
• Licensee engagement: Licensees and industry representatives are encouraged to use services that do not require in-person visits to CIMA's offices.

CIMA states it will continue monitoring the situation and will communicate further changes affecting its operations via its website. The notice does not impose new compliance requirements, filing obligations, or deadlines on regulated entities; it is purely informational, signaling operational flexibility and encouraging remote engagement with CIMA during the pandemic.

Applies to

licensees, industry representatives