Caymans sign MOU with Abu Dhabi

Chris Hamblin

22 June 2016

The Cayman Islands Monetary Authority and the FSRA signed their memorandum of understanding (MoU) this month, formalising the help they intend to give each other when exchanging information and fostering high standards of regulatory practice and compliance in both jurisdictions. Cindy Scotland, the managing director of CIMA, and Richard Teng, the CEO of the Abu Dhabi regulator (which wants to be abbreviated as 'FSRA, ADGM') did the honours.

Both parties hope that the MoU will make cross-border transactions easier to supervise and fraudulent and other prohibited practices in both places easier to detect.