News
A New Paradigm in Governance
Paradigm in the community: supporting Cayman’s fundraising
At Paradigm Governance Partners, personal engagement and partnership are core values. Participating in local community events is more than just a way to give back; it’s an expression of our belief in individual and collective responsibility and the importance of being...
Paradigm out and about: industry events, team building and training
At Paradigm Governance Partners, we take pride in supporting and participating in a variety of events that bring value to both our industry and the community. Over the past few months, our team has been actively involved in initiatives that inspire professional...
Notable deadlines and legislative changes
BOT Act On 29 May, 2024, the Ministry of Financial Services and Commerce stated that it is continuing to progress the legislative and systems changes required to implement the Beneficial Ownership Transparency (BOT) Act. That commencement is expected in July 2024. But...
Key deadlines for CRS filings
The Department for International Tax Cooperation (DITC) issued some important updates in June reminding Cayman Islands financial Institutions of their common reporting standard (CRS) annual reporting obligations. There are a number of key deadlines to be aware of. The...
FATF vows to step up efforts
Ministers at the Financial Action Task Force (FATF) have said they intend to step up their efforts to effectively implement standards to regulate virtual assets and virtual assets service providers. The FAFT Plenary agreed on a roadmap to strengthen the implementation...
Congratulating our own ‘ironman’ Jon Roney
All of the team here at Paradigm are in awe of the achievement of Jon Roney, fiduciary services director, who has completed a half ironman. Jon completed IRONMAN 70.3, which took place in St. George Utah, USA. It was Jon’s 12th half Ironman race, and the first one...
Welcoming new staff member Javiera Aguayo
We were delighted to welcome Javiera Aguayo into the team in June who joins as a compliance officer. Javiera has over 10 years’ experience in regulatory compliance and practical knowledge of the Anti-Money Laundering (AML) requirements and legislation in the Cayman...
New sanctions requirements for Russia
The Financial Reporting Authority in June issued new Reporting Requirements under the Russia Sanctions Regime. The Russia (Sanctions) (EU Exit) Regulations 2019 were made under the Sanctions and Anti-Money Laundering Act 2018 and provide for the imposition of...
Stay in the know: notable legislative changes in the Cayman Islands
Cayman removed from UK and EU AML lists Following the removal of the Cayman Islands from the Financial Action Task Force’s 'greylist' last year, both UK and the EU have removed the Cayman Islands from their respective lists of "high-risk third countries". The removal...
DITC reminder on date of birth compliance
The Department for International Tax Cooperation (DITC) has issued a reminder to all financial institutions (FI) that the date of birth of individuals, whether account holders and/or controlling persons, must be given on submitted CRS XML Returns. The DITC made the...