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The Cayman Islands Monetary Authority is responsible for the regulation and supervision of the financial services industry in the Cayman Islands. The authority was established as a body corporate under the Monetary Authority Law, which was brought into force on January 1, 1997. Prior to the creation of the authority, the Financial Services Supervision Department and the Cayman Islands Currency Board carried out the responsibilities, duties and activities of the authority.
In March 2003 the authority became operationally independent under the Monetary Authority Law, which more clearly defined its functions, duties, powers and obligations.
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Cayman Islands Securities & Banking Guide
A version of this article was also published by Complinet.