Securities Investment Business (Registration and Deregistration) (Amendment) Regulations, 2024 (SL 77 of 2024)

Summary

This is an amendment to the Securities Investment Business (Registration and Deregistration) Regulations, 2019, made under the Securities Investment Business Act (2020 Revision). It repeals and replaces regulation 9 of the 2019 Regulations, which sets the fees payable to the Cayman Islands Monetary Authority (CIMA) by persons registered, or applying for registration, as a 'registered person' under the Securities Investment Business Act.

The substantive change is straightforward and does not otherwise alter the registration or deregistration process itself.

• Registration fee: An applicant seeking registration as a registered person must pay six thousand dollars.
• Annual fee: An already-registered person must pay an annual fee of six thousand dollars.

The Regulations do not commence on a fixed calendar date but instead come into force immediately after the Securities Investment Business (Amendment and Validation) Act, 2024 comes into force, meaning the effective date is tied to that other piece of legislation.

Key obligations

• An applicant for registration as a registered person under the Securities Investment Business Act must pay a registration fee of six thousand dollars to CIMA.
• A registered person must pay an annual fee of six thousand dollars to CIMA.

Applies to

registered persons under the Securities Investment Business Act, applicants for registration as a registered person

Deadlines

• immediately after the Securities Investment Business (Amendment and Validation) Act, 2024 comes into force: Commencement date of these Regulations, contingent on the coming into force of the Securities Investment Business (Amendment and Validation) Act, 2024.

Related documents

• This document is made under Securities Investment Business Law (2020 Revision)
• Securities Investment Business (Registration and Deregistration) Regulations (2026 Revision) replaces this document