Photo of the Remarkables mountain range in Queenstown, New Zealand.

Archive for March, 2016

French bank facing Cayman labour scandal

French bank facing Cayman labour scandal

| 10/03/2016 | 30 Comments

(CNS Business): BNP Paribas has come under fire locally for reportedly laying off Caymanian employees, attracting the attention of labour enforcement officers, who are said to have visited the bank’s offices in Cayman. CNS Business understands that several Caymanians have been laid off by the French bank, which operates in Cayman providing a range of banking […]

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Cayman firms fined $6M for helping tax dodgers

Cayman firms fined $6M for helping tax dodgers

| 09/03/2016 | 38 Comments

(CNS Business): Two subsidiaries of the Cayman National Corporation have pleaded guilty to helping clients evade taxes in a US Department of Justice crackdown on tax cheats. Cayman National Securities and Cayman National Trust entered guilty pleas Wednesday in a New York federal court. The two entities will pay US$6 million in forfeiture and fines, […]

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Industry body helping CIG dodge public register

Industry body helping CIG dodge public register

| 04/03/2016 | 3 Comments

(CNS Business): With the threat still looming that the UK could force the Cayman Islands and other overseas territories to introduce a publicly accessible beneficial ownership register, Cayman Finance has said it is working with government on the technology to help satisfy the access demands without making the register public. Jude Scott, the CEO of […]

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CIG keeps Moody’s Aa3 rating on its bonds

CIG keeps Moody’s Aa3 rating on its bonds

| 04/03/2016 | 4 Comments

(CNS Business): The finance minister credits government’s fiscal prudence for retaining the Cayman Islands’ solid credit rating and stable economic outlook after the international credit rating agency, Moody’s, maintained Cayman’s Aa3 rating for the government’s bonds issued in a foreign currency and an Aa2 rating for long-term foreign currency ceiling bonds and notes. Marco Archer said […]

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