Archive for September 11th, 2014
Cayman leads in offshore dealmaking
(CNS Business): The Cayman Islands remained the top target destination for offshore dealmaking in the second quarter of 2014, according to a report released by offshore law firm Appleby. In total, Cayman attracted 205 deals with a cumulative value of USD40.6bn, accounting for 32% of the total volume and half of all dollars spent on […]
Premier praises CIMA director’s diplomacy
(CNS Business): In the Cayman Islands Legislative Assembly this week, Premier Alden McLaughlin recognised the diplomacy of the Managing Director of the Cayman Islands Monetary Authority (CIMA) following the islands’ inclusion on the UK Financial Conduct Authority’s ‘High Risk Countries’ list in July. Calling this action by the FCA “unwarranted†and “arbitraryâ€, he commended both […]
MACI to collect own cash and offer registry deals
(CNS Business): The Marine Authority of the Cayman Islands will be able to offer discounts and package deals to clients as a result of an amendment to the merchant shipping law. A small change to the legislation which removes the shipping fees from government’s coercive revenue to entity revenue will allow the authority to keep […]
Cayman court gets power to issue interim orders in foreign cases
(CNS Business): An amendment to the Cayman Islands Grand Court rules has given local judges the power to make free standing interim orders regarding assets and resources in foreign cases that also touch this jurisdiction to help prevent abuse of those involved in legal proceedings around the world. Attorney General Samuel brought the amendment to […]
Minister cleans up problems in mutual funds law
(CNS Business): A requirement for non-resident mutual fund administrators on funds registered here to pay licensing fees and file returns has been removed from the 2012 Mutual Funds law. In what Financial Services Minister Wayne Panton described as a “clean-up exercise†he said that the requirement in the law was not feasible and the industry […]
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