CIMA finally fills top insurance post

CIMA finally fills top insurance post

| 21/07/2016 | 1 Comment

(CNS Business): After several years without a leader at the helm of the Cayman Islands Monetary Authority’s insurance division, the regulator has finally filled the post. Following an open competitive recruitment process Ruwan Jayasekera has been confirmed as the new head of the department. Given the importance of the growing sector, there had been mounting […]

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DMS caught up in class action against client

DMS caught up in class action against client

| 22/07/2016 | 0 Comments

(CNS Business): Cayman-based financial services firm, DMS, has been sucked up into a class action suit against a former BVI company accused of fraud which was once one of its clients. More than 300 investors who collectively had more than $50 million invested in CWM Limited, a foreign exchange trading firm incorporated in BVI and […]

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Flow boss aims to settle regulator issues

Flow boss aims to settle regulator issues

| 21/07/2016 | 0 Comments

(CNS Business): Following recent reports of disputes between Flow and both the Information and Communications Technology Authority (ICTA) and Department of Immigration, the firm’s president, Michele English, was in the Cayman Islands this week meeting with government officials to resolve the issues relating to human resources, technical concerns and the acquisition of the parent company, […]

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False start for mammoth Saudi fraud trial

False start for mammoth Saudi fraud trial

| 19/07/2016

(CNS Business): The biggest ever trial to be held in the Cayman Islands got off to a false start yesterday, with proceedings adjourned at the start of the first day due to what the chief justice Smellie called “housekeeping issues”, but with the courts blocking off the next seven months to deal with the liquidation […]

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Cayman fund rivals could see post-Brexit boost

Cayman fund rivals could see post-Brexit boost

| 18/07/2016 | 0 Comments

(CNS Business): As the fallout from the Brexit vote turns to the complexities of engineering the UK’s exit from Europe, there is a real possibility that fund managers might move their headquarters from the UK to remain in the EU, and with Luxembourg and Dublin seen as viable alternatives, these fund domiciles could continue to […]

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Golden Spoons Review: Cayman Creperie

Golden Spoons Review: Cayman Creperie

| 18/07/2016 | 12 Comments

(CNS Foodie): Cayman Creperie is one half of the combined eatery on the second floor of Bayshore Mall, Lucky Slice Pizza being the other. It is, therefore, perfectly positioned to attract the cost-conscious cruise tourist as well as the time-conscious 9-5 denizens of George Town. As a card-carrying member of the latter group, the question […]

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Cops meet with businesses to address security concerns

Cops meet with businesses to address security concerns

| 15/07/2016 | 1 Comment

(CNS Business): Police Superintendent Robert Graham, who is heading up the RCIPS’ plan to put community policing back at the heart of the service, met with a number of local business leaders last week to get to grips with needs and concerns in the commercial sector and begin to build partnerships. Graham, who was recently recruited […]

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Telecoms giant blocks Cayman regulator from offices

Telecoms giant blocks Cayman regulator from offices

| 15/07/2016 | 0 Comments

(CNS Business): An attempt by the Information and Communications Technology Authority (ICTA) to enter the main Cayman office of Cable and Wireless this week was met with a refusal, officials from the regulator have confirmed. Over the last few months the firm, which now trades under the brand name Flow, has been under the watchful […]

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Street vendors get short reprieve ahead of fines

Street vendors get short reprieve ahead of fines

| 12/07/2016 | 13 Comments

(CNS Business): Local tradespeople who have been selling souvenirs, coconuts or fruit, or renting beach chairs or snorkel kits without a trade and business licence on the streets of George Town, along Seven Mile Beach and at the West Bay dock have been given one more month to comply with the law before government starts […]

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Increase in imports signals economic recovery

Increase in imports signals economic recovery

| 11/07/2016 | 0 Comments

(CNS Business): Finance and Economic Development Minister Marco Archer has said that the near 12% increase in imported goods at the beginning of this year compared to the previous year was a sign of the economic recovery in the Cayman Islands. According to figures released by the Economics and Statistics Office (ESO), the country’s merchandise imports […]

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CIMA reveals deal with Gibraltar in wake of Brexit

CIMA reveals deal with Gibraltar in wake of Brexit

| 05/07/2016 | 2 Comments

(CNS): The Cayman Islands Monetary Authority (CIMA) has signed a memorandum of understanding with the Gibraltar Financial Services Commission in the wake of  the UK’s recent referendum on leaving the European Union, the results of which impacted both territories. CIMA officials said the deal would pave the way for cooperation and exchange of information regarding […]

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Golden Spoons Review: George Town Yacht Club

Golden Spoons Review: George Town Yacht Club

| 05/07/2016 | 9 Comments

(CNS Foodie): Before we get on to the food, it’s worth mentioning the parking: there’s lots of it, which is not a minor consideration when choosing somewhere for lunch in or near to town. The George Town Yacht Club is just ten minutes from the town centre and two minutes from the airport, easy to […]

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CIMA signs deal with Abu Dhabi

CIMA signs deal with Abu Dhabi

| 29/06/2016 | 0 Comments

(CNS Business): The Cayman Islands Monetary Authority (CIMA) has signed a deal with the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM), creating a framework for mutual assistance and exchange of information. CIMA said the Memorandum of Understanding (MoU) would foster standards of regulatory practice and compliance. The deal, officials said, would […]

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Cayman passes new copyright law

Cayman passes new copyright law

| 29/06/2016 | 0 Comments

(CNS Business): New copyright legislation comes into effect in Cayman Thursday that will provide greater legal rights to Cayman’s musicians, visual artists and others in the creative fields, and is the first step in modernising intellectual property (IP) legislation. Commerce Minister Wayne Panton said government had plans to present more bills in September to update […]

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Cayman’s ‘secrecy law’ gets overhaul

Cayman’s ‘secrecy law’ gets overhaul

| 29/06/2016 | 6 Comments

(CNS Business): The controversial piece of legislation that has been considered Cayman’s ‘secrecy law’ for many years and fueled the jurisdiction’s tax haven label has been repealed and replaced to help detract unwanted and unfair criticism, Financial Services Minister Wayne Panton has said. Along with a number of other changes as well as a new […]

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