Beneficial Ownership Transparency Amendment No.2 Bill 2025
Government bill, sponsored by the Ministry of Financial Services and Commerce
What this law does
This bill updates the Cayman Islands' beneficial ownership transparency rules to require companies that are subsidiaries of listed entities to provide additional information, allow the government to share beneficial ownership data with foreign authorities and other governments for anti-money laundering purposes, and clarify that financial penalties are maximum amounts that can be adjusted based on specific circumstances.
- Subsidiaries of publicly listed companies must now provide the name of their parent listed entity when reporting beneficial ownership information
- The competent authority can now share beneficial ownership information with foreign governments, anti-money laundering authorities, and other countries' regulatory bodies in appropriate circumstances
- Administrative fines are clarified as maximum amounts, allowing regulators to impose lower penalties based on aggravating or mitigating factors
- Companies must maintain beneficial ownership registers that are adequate, accurate, and current, with clearer rules about when notices must be issued to beneficial owners
Who it affects: Companies and legal entities operating in the Cayman Islands (particularly subsidiaries of listed entities), corporate services providers, beneficial owners, and government regulatory authorities
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Official documents
Debated in Parliament
Hansard sittings whose records mention this law: