Prudential Reports and Statistical Returns

Summary

This is a short CIMA regulatory policy statement, dated October 2002, setting out the general framework for prudential reporting and statistical returns by financial institutions in the Cayman Islands. It confirms that the various regulatory laws give the Authority power to require information from licensees to carry out its supervisory functions and meet international obligations.

• Reporting obligation: The policy does not prescribe specific forms, formats, or dates; instead it establishes the underlying obligation that licensees must submit prudential reports and statistical returns as, and when, prescribed by CIMA's published reporting schedules and guidance notes for each particular return.
• Additional information: It preserves CIMA's discretion to request additional information on a case-by-case basis from a financial institution or any of its related companies, regardless of their activities, where CIMA considers it material to assessing the institution's financial condition or risk profile.

Because this is a framework/policy document rather than a specific reporting rule, it does not itself contain concrete deadlines, forms, or thresholds; those are set out in the separately published reporting schedules and guidance notes referenced in the policy.

Key obligations

• Financial institutions must submit prudential reports and statistical returns to CIMA by the dates stipulated in CIMA's published reporting schedules.
• Financial institutions must prepare and submit these reports and returns in accordance with CIMA's guidance notes for each specific return.
• Financial institutions (and, where relevant, their related companies) must provide additional information requested by CIMA on a case-by-case basis where CIMA considers it material to assessing the institution's financial situation or risk.

Applies to

financial institutions, licensees