FSI Announces Seminar on CIMA Corporate Governance Rules and Risk Management

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 it’s timely to deliver a seminar that 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, 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.

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 Karen@caymanfsi.ky .

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.