CAYMANgovernanceregulatory-textVerified 2026-07-31

CIMA Corporate Governance Rule for Regulated Entities — selected excerpts (2023)

Working briefRegulatory text

Applies to

Governing bodies of all CIMA-regulated entities

Owner

Governing body and senior management

Effect / trigger

Rule 8.1 states 13 October 2023; CIMA's current catalogue states 14 October 2023

Evidence

Governance framework, responsibility map, outsourcing oversight and conflict declarations

Legal effect

Current

Site review

Draft / under review

Source version / verified

Gazetted April 2023 · Verified 2026-07-31

Effective-date discrepancy and publication boundary

Rule 8.1 of the official PDF states an effective date of 13 October 2023, while CIMA's current regulatory-measures catalogue labels it 14 October 2023. Confirm the date with CIMA before making a compliance determination; permission to reproduce or translate the full document remains unconfirmed, so this site provides only necessary short excerpts and does not mirror the PDF.

Primary source

Source document overview

This Rule applies to the governing bodies of all CIMA-regulated entities on a basis proportionate to each entity's size, complexity, structure, business and risk profile; regulated mutual and private funds must also read it with their dedicated statement of guidance. It requires a sound and prudent governance framework with defined responsibilities for the governing body, senior management and control functions, covering independence, risk and controls, conflicts, remuneration, financial reporting, communications, meeting records and relations with CIMA. The governing body retains ultimate responsibility for outsourced functions, must review the framework regularly and be able to demonstrate its adequacy and effectiveness to CIMA; breaches engage CIMA's enforcement framework.

Authority

Cayman Islands Monetary Authority (CIMA)

Legal level

Regulatory rule

Translation scope

Key short excerpts from Rules 3.1, 5.1.1, 5.4.1, 5.8.2 and 5.10.5

Rights status

Permission required

Editorial translation / 非官方译文

The Chinese text below is an unofficial editorial translation for learning and research. If it differs from the official English text, the English text prevails. Verify the current primary source before relying on it.

Regulatory passage

Rule 3.1 / 第3.1条#

SourceCIMA-CORPORATE-GOVERNANCE-2023

English original

“… Governing Body of all regulated entities …”

Editorial Chinese translation

“……所有受监管实体的治理机构……”

Translation note

In context, Rule 3.1 brings every CIMA-regulated entity’s governing body within scope, subject to the proportional application stated in the Rule.

Regulatory passage

Rule 5.1.1 / 第5.1.1条#

SourceCIMA-CORPORATE-GOVERNANCE-2023

English original

“… sound and prudent management oversight …”

Editorial Chinese translation

“……健全且审慎的管理监督……”

Translation note

The complete provision requires a regulated entity to establish, implement and maintain a governance framework that provides this oversight and protects legitimate stakeholder interests.

Regulatory passage

Rule 5.4.1 / 第5.4.1条#

SourceCIMA-CORPORATE-GOVERNANCE-2023

English original

“… separation of the oversight function …”

Editorial Chinese translation

“……监督职能相分离……”

Translation note

Rule 5.4.1 requires documented roles for the governing body, senior management and control functions so that oversight is appropriately separated from management responsibilities.

Regulatory passage

Rule 5.8.2 / 第5.8.2条#

SourceCIMA-CORPORATE-GOVERNANCE-2023

English original

“… cannot abrogate its responsibility …”

Editorial Chinese translation

“……不得免除其责任……”

Translation note

Outsourcing must be documented and monitored; the governing body retains overall responsibility for delegated functions, including internal control, audit and risk management where applicable.

Regulatory passage

Rule 5.10.5 / 第5.10.5条#

SourceCIMA-CORPORATE-GOVERNANCE-2023

English original

“… annual declaration …”

Editorial Chinese translation

“……年度声明……”

Translation note

Directors and senior management must confirm in writing each year that conflicts were declared and must communicate changes during the year.

For learning and research only. This material is not legal, tax, investment or compliance advice. Confirm current primary sources and obtain professional advice for specific facts.