Harneys is a full-service offshore law firm offering expert legal advice on the laws of jurisdictions including the British Virgin Islands, Cayman Islands, Luxembourg, and more. Established in 1960, the firm has grown to 11 global locations with over 180 lawyers, serving top law firms, financial institutions, investment funds, and high-net-worth individuals. Harneys provides comprehensive legal support across transactional, contentious, and private client matters, often in collaboration with Harneys Fiduciary, which delivers corporate and wealth management services. Known for its role in shaping offshore jurisprudence, the firm also advises on legislative developments and excels in handling complex cross-border transactions and disputes.
The Cayman Islands Monetary Authority
(CIMA) recently issued important updates
regarding financial sanctions. These measures mandate that
financial institutions evaluate their exposure to newly listed
entities, freeze any relevant assets, and report their actions to
the Reporting Authority.
Failure to comply could result in significant penalties,
emphasising the need for prompt adherence. To remain informed,
financial institutions are advised to frequently review updates
posted on CIMA's website.
For more information on specific notices, visit CIMA's
website here.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
