30 Jul CIMA – CIMA issued updated guide on Basel II and QPR reporting
July 30, 2021 – CAY CIMA updated guide on Basel II and quarterly prudential returns (QPR) reporting. Follows CAY CIMA May 2021 effective date for Basel II
Banks regulated under Cayman Islands’ Banks and Trust Companies Act must submit documents to CIMA: quarterly prudential returns and annual audited accounts. Banks no longer required to file per calendar year quarter end, now to their fiscal year. QPRs to be filed via the Basel II and QPR portal; the guide includes reporting schedule.
Regulatory enhanced electronic forms submission (REEFS) is the online portal for electronic submission of required financial services information to CAY CIMA. REEFS portal will assess submission against validation rules to ensure form integrity. It will be returned to the submitting bank if it does not pass the validation rules. The bank will then be required to correct the error(s) and re-submit the form.
For more information, visit www.cima.ky.