FSI Announces Seminar On CIMA Corporate Governance Rules And Risk Management
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Cayman Islands Financial Services Institute Press Release
The Cayman Islands Financial Services Institute (FSI) is excited to announce a half-day seminar, “Corporate Governance & Risk Management for Cayman Islands Directors,” on November 6, 2024, at the Kimpton Seafire Resort + Spa.
This timely event comes after the updated corporate governance rules and guidance issued by the Cayman Islands Monetary Authority (CIMA) came into effect in October 2023, emphasising the need for stronger governance frameworks, board independence, and more rigorous risk management procedures. The seminar aims to provide Cayman Islands directors with the knowledge and tools to comply with these regulations and enhance their governance practices.
Rohan Bromfield, Head of the Fiduciary Services Division at CIMA, will kick off the seminar by discussing the CIMA Corporate Governance Rule for Regulated Entities, detailing the responsibilities of the board, the importance of objectivity, and how to implement a robust governance framework.
Paul Byles, Director FSI, will follow with a session on AML Risk Management, covering the crucial role directors play in managing Anti-Money Laundering (AML) risks and ensuring regulatory compliance. Byles emphasized the importance of the event, saying:
“As corporate governance rules evolve, directors must stay informed and proactive. The updated rule and guidance from CIMA have been in place for over a year now so its timely to deliver a seminar provides directors with the knowledge they need to meet the new regulatory standards and safeguard their organizations against risks,” said Byles.
Other expert speakers include Scott Blench and Dara Keogh from Grant Thornton, who will present a session on navigating internal audit reports to strengthen internal controls. Stephanie Azan, Deputy Head of the Onsite Inspection Unit at CIMA will present an overview of CIMA’s Corporate Governance Thematic Review, and Róisín Liddy-Murphy, Head of Regulatory & Risk Advisory at Conyers, who will lead a discussion on managing legal risks and the fiduciary responsibilities of directors.
Seminar speakers (Top Row L-R) Stephan Azan, Scott Blench, Rohan Bromfield, (Bottom Row L-R) Paul Byles, Dara Keogh, Roisin Liddy-Murphy
The seminar will conclude with a panel discussion featuring all the speakers, offering directors and other financial services professionals the opportunity to ask questions and obtain practical strategies to navigate controversies, conflicts, and the evolving regulatory landscape.
Event Details:
Date: Wednesday, November 6, 2024
Time: 8:30 AM – 12:30 PM
Location: Kimpton Seafire Resort + Spa, Cayman Islands
For more information and registration, visit www.caymanfsi.ky or contact Karen at [email protected] .
Since its launch in 2023 with two one-year diplomas in partnership with two universities, the FSI continues to be at the forefront of providing targeted training designed to meet the ever-evolving needs of the financial services industry, promoting better compliance, and fostering professional development.
