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EU AML Delisting Process Commenced; Cayman Removed from UK High Risk List

The EU Commission has published a delegated regulation this week regarding the removal of the Cayman Islands from its AML list.

The EU Commission has published a delegated regulation this month regarding the removal of the Cayman Islands from its AML list. This document marks the first official step toward Cayman’s delisting from the EU AML list. The Deputy Premier and Minister for Financial Services and Commerce in the Cayman Island stated:

“As a result of our FATF delisting, we expected the Cayman Islands to be removed from the UK high risk list (in addition to reduced ratings in other countries). I’m therefore grateful that following discussions with Her Excellency, Governor Jane Owen and other relevant UK Government officials, Cayman has been removed”.

The release from the Ministry of Financial Services of the Cayman Islands can be read here.

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Jonathan McLean

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This publication is for general guidance and is not intended to be a substitute for specific legal advice. Specialist advice should be sought about specific circumstances.

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