The Financial Services Institute (FSI), in collaboration with Grant Thornton, Conyers and Cayman Finance, is organising its’ fourth comprehensive training seminar on Preparing for an Onsite Inspection from the Cayman Islands Monetary Authority (CIMA). The unique seminar, previously organised by FTS and which takes place roughly every 2 years, will take place on Wednesday, 2 May 2024, at the Kimpton Seafire Resort & Spa.

Designed to equip industry professionals with the knowledge and tools needed to navigate CIMA onsite inspections effectively, the half-day seminar will run from 9am to 12.30pm. Notable speakers include Razaak Busari, Head of Onsite Inspections Unit at CIMA, Stephane Azan, Deputy Head of Onsite Inspection Unit at CIMA, and Abubakar Nyanzi, Deputy Head of AML Division at CIMA. Additionally, experts from Grant Thornton, including Scott Blench and Dara Keogh will provide insights into best practices for addressing inspection findings and the legal implications respectively. Roisin Liddy-Murphy, Partner and head of Regulatory and Risk Advisory of Conyers will deliver a presentation on the legal implications of onsite inspections.

“We are excited to partner with Cayman Finance and other industry partners to deliver this essential training seminar,” said Paul Byles, Director of the FSI. “Preparing for onsite inspections is paramount for financial institutions in maintaining effective compliance systems from both an AML as well as a prudential perspective and maintaining high standards within our financial services industry.”

“Ensuring that industry professionals are well-prepared for CIMA onsite inspections is critical for fostering regulatory compliance and promoting trust and confidence in our jurisdiction,” said Steve McIntosh, CEO of Cayman Finance. “We are pleased to support this initiative, which will provide valuable guidance and practical insights the industry.”

Dara Keogh, Managing Partner of Grant Thornton, said, “As industry leaders, it is our responsibility to equip financial services professionals with the knowledge and tools needed to navigate regulatory challenges effectively. Grant Thornton is pleased to support this initiative which will offer practical guidance on preparing for regulatory inspections and addressing inspection findings.”

The seminar promises to be a valuable learning opportunity for industry professionals seeking to stay abreast of recent regulatory approaches and enhance their understanding of CIMA’s onsite inspections and ensure compliance with regulatory requirements in the Cayman Islands.

Photo Captions (L-R):

• Steve McIntosh, CEO, Cayman Finance
• Dara Keogh, Managing Partner, Grant Thornton Cayman Islands
• Paul Byles, Director, FSI