Delegation of AML Supervision to the LSSA

Pursuant to Section 5(1)(g) of the Legal Services Act, 2020 (“LSA”) and Section 55B(C) of the Anti-Money Laundering Regulations, 2025 (“AMLRs”), the Cayman Islands Legal Services Council (LSC) is the appointed AML Supervisory Authority for attorneys-at-law, and has under Section 5(3) of the LSA, delegated this function to the Legal Services Supervisory Authority (LSSA). As a result, the AML/CFT/CPF supervisory responsibilities previously administered by the Cayman Islands Legal Practitioners Association (CILPA) and delegated to the Cayman Attorneys Regulatory Authority (CARA) have now been formally transferred to the LSC and delegated to the LSSA.

Why is Data Transfer Required?

To ensure continuity in AML/CFT/CPF supervision, LSSA requires the consent of firms previously registered with CARA and engaged in relevant financial business (RFB) to transfer essential regulatory data, including:

  • Firm registration details
  • Records from onsite inspections
  • Data obtained through other supervisory engagements

This process will allow LSSA to assume the supervisory responsibilities previously held by CARA in as expeditious a manner as possible.

In addition, following legislative amendments to the AMLRs and relevant laws since the original CARA registration, LSSA will request supplementary information to ensure that the records of each firm/sole practitioner are fully compliant with current requirements.

What are Your Options?

As part of the transition, RFB firms previously registered with CARA have two options:

1. Consent to Data Transfer

If a firm, or sole practitioner agrees to the transfer of its regulatory data from CARA to LSSA, the following process is to be followed:

Deadline: Consent to the data transfer must be submitted no later than 13 October 2025.

Material Changes Notification

If your business has undergone any material changes since your CARA registration, you must also complete the relevant update form.

Material changes include:

  • Change in key officers
  • Change in business name
  • Change in business address
  • Change in risk profile

Please visit our Forms Library to download and submit the appropriate form together with your consent form.

2. Register Directly with LSSA

Deadline: Firms and sole practitioners that do not consent must complete a new registration with the LSSA by 27 October 2025.

If a firm or sole practitioner chooses not to consent to the data transfer, a new registration with the LSSA will be required.

For guidance on this process, please visit our How to Register page.

Registration Process Overview

The flowchart below provides an overview of LSSA’s registration process and specifies the forms that must be completed and submitted.

Contact Us

If you have any questions or require assistance, please contact the LSSA Supervision Department:

Email: supervision@caymanlssa.ky