Archive for September, 2014
Cayman hospital to feature at tourism conference
(CNS Business): Health City Cayman Islands is sending a delegation to an international healthcare conference and trade show in in Washington DC next week. Dr Chandy Abraham, Facility Director and Head of Medical Services, will introduce the special skills and capacities of the state-of-the-art facility in his presentation to a Caribbean ministerial meeting at the World Medical […]
Former CIMA division head joins private sector
(CNS Business): A former senior manager at the Cayman Islands Monetary Authority has joined boutique corporate governance services firm, Highwater, as a director. Yolanda Banks-McCoy was until recently the Head of CIMA’s Investments and Securities Division, where she was responsible for the effective regulation and supervision of hedge funds, fund administrators and securities investment companies […]
First retail debt listing for CSX
(CNS Business): Carey Olsen in the Cayman Islands has successfully advised on the first ever listing of retail debt on the Cayman Islands Stock Exchange (CSX). Led by partner Nick Bullmore and supported by Associate Alistair Russell, Carey Olsen acted both as legal counsel and as listing agent to Cyprotex PLC, an AIM-listed company, in […]
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 […]
Bimini cruise dock putting reefs in peril
(CNS Business): The traditional livelihoods of fishing, diving and snokelling on the tiny island of North Bimini in The Bahamas are under threat from the construction of a thousand-foot cruise dock built to accommodate day trip passengers from Florida. Phase one is complete but residents and environmental activists say the silt produced during the dredging […]
Caribbean ganja tourism up for debate
(CNS Business): Marijuana tourism is set to be debated at the Caribbean Tourism Organisation’s (CTO) State of the Industry Conference (SOTIC) next week. Richard Kildare, the deputy chief executive officer of Jamaica’s first medical marijuana company, will lead off debate on the notion or reality of marijuana tourism. Rory Johnston, a PhD student at the faculty of […]
CIMA announces regulatory policy revisions in effect
(CNS Business): Revisions to two Cayman Islands financial services regulatory policies, one relating to the licensing and approving of money services business and the other to the licensing of banks, are now in effect. The revisions were approved by the Board of Directors of the Cayman Islands Monetary Authority (CIMA) and came into effect Monday […]
Tourism apprenticeship programme final graduation
(CNS Business): With the establishment of the School of Hospitality Studies (SHS), the Tourism Apprenticeship Training Programme (TATP) run by the Department of Tourism is being discontinued and so the recent graduation service recognising the last six apprentices who completed the programme was the final one. The TATP, which began in 2006, was designed to […]
Bahamas proposes sweeping changes to gaming industry
(CNS Business): The government of The Bahamas has decided to go against the result of referendum and press on with the proposed comprehensive legislation aimed at regularizing the gaming industry in the country. The referendum to legalize gambling for citizens in January 2013, which cost taxpayers $1.2m, resulted in a ‘no’ majority vote. Nevertheless, Tourism Minister Obie […]
Blacklisting brief but impact unknown
(CNS Business): Praising Financial Services Minister Wayne Panton for his urgent response to the brief blacklisting of the Cayman Islands by the UK’s Financial Conduct Authority (FCA), Cayman Finance CEO Gonzalo Jalles said the impact on the jurisdiction’s reputation may never be known. The list was published by the FCA on 18 July in response to […]
Junior Achievement alumna joins JA Board
(CNS Business): Kristina Buckeridge has been appointed to the Board of Directors of the local Junior Achievement. She said she first gained an interest in business, and in particular marketing, during her time in the JA Company Programme, in which high school students learn valuable business skills by forming and running their own company, guided […]
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