Cayman Promotes Transparency with Disclosure Law

In an effort to promote greater transparency within the financial industry, The Confidential Information Disclosure Law, 2016 (the “Law”), was passed in the Cayman Islands Gazette on 22nd July 2016. It has the effect of repealing the Confidential Relationships (Preservation) Law (2015 Revision) (the “CRPL”), sometimes unfairly referred to as Cayman’s secrecy law. The Law applies to professionals on whom a duty of confidentiality is imposed by law or contract.

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