The Cayman Islands Monetary Authority (CIMA) is the primary financial regulatory authority of the Cayman Islands, responsible for the regulation and supervision of financial services entities operating in and from the Cayman Islands. It manages the issue and redemption of Cayman Islands currency, supervises the currency board, monitors compliance with money laundering regulations, provides assistance to overseas regulatory authorities, and advises the Cayman Islands Government on monetary, regulatory, and cooperative matters. Established on 1997-01-01 through the merger of the Financial Services Supervision Department of the Cayman Islands Government and the Cayman Islands Currency Board, it became operationally independent in 2003-03. CIMA oversees offshore entities such as NML Capital Ltd., used by Elliott Management Corporation.