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Inspector CIMA

Companies in the financial sector enrolled in a training seminar put on by local consulting firm FTS, teaching them about the on site inspections the Cayman Islands Monetary Authority (CIMA) conducts.

Today’s training exercise is the second in a series of seminars, aimed to help insurance companies, banks, corporate services, trust and fund institutions on the benefits of being inspected by CIMA and how it will improve their business.

“But if you are not compliant with the regulations, you don’t really have a valid business, you could easily have an issue where you lose all your opportunity because your failure to comply with something, you lose your license or you get a restriction on your license and so on, so you can’t conduct business the way you need to conduct business, so the inspection is there to help and needs to be viewed as a positive way to improve your controls and procedures,” said Director of FTS, Paul Blyes

Over 60 people attended the event.

About the author

Philipp Richter

Philipp Richter

Philipp Richter was born in Austria and moved to the Cayman Islands at the age of three. Throughout his life, he has always enjoyed documenting his surroundings with cameras. Studying television broadcasting and communications, he now can show the reality of life in Grand Cayman to the public.

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