The Cayman Islands has said 'registered persons' are exempt from company beneficial ownership rules, meaning they will no longer be required to comply with either the Companies Law or Limited Liability Companies Law. The change, which came into effect yesterday, means that all future company reporting for these 3,000 or so firms will be filed under the Cayman Securities Investment Business Law (SIBL). The reporting rules will, however, be strictly enforced. Earlier this month, International Investment reported that, as of 29 June, any Cayman Islands registered company will be fined up...
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