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Bank increases loan but not deposit rate

Bank increases loan but not deposit rate

| 17/03/2017 | 4 Comments

(CNS Business): Following the 25 basis point increase in the US Federal Funds Rate earlier this week, Butterfield Bank has announced an adjustment in its US and CI dollar prime lending rates for mortgages, consumer loans and commercial loans from 3.75% to 4% beginning today Friday, 17 March. But [...]

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UK crime law will impact CI financial sector

UK crime law will impact CI financial sector

| 17/03/2017 | 0 Comments

(CNS Business): A new piece of legislation currently being steered through the UK parliament could have a significant impact on the Cayman Islands. The Criminal Finances Bill, which once passed will amend the Proceeds of Crime Act, is focused on dealing with terrorist financing but it also create [...]

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Premier updates Baroness on beneficial ownership register

Premier updates Baroness on beneficial ownership register

| 09/03/2017 | 2 Comments

(CNS Business): Premier Alden McLaughlin and Attorney General Sam Bulgin met with the UK’s minister responsible for its overseas territories, Baroness Anelay, Monday afternoon to update her on Cayman’s progress on the implementation of legislation underpinning the non-public searchable regis [...]

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Premier: Cayman will thrive in changing world

Premier: Cayman will thrive in changing world

| 08/03/2017 | 1 Comment

(CNS Business): Premier Alden McLaughlin told an audience of British lawyers that the Cayman Islands will not only survive in these “times of uncertainty” but its financial sector, constitution and adherence to the rule of law will ensure that it thrives. “As a jurisdiction, Cayman has alw [...]

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CIMA celebrates 20 years of service

CIMA celebrates 20 years of service

| 03/03/2017 | 0 Comments

(CNS Business): As part of its 20th anniversary celebrations, the Cayman Islands Monetary Authority (CIMA) will host a Family Fun Day for all staff and their families, as well as a charity 5K Walk/10K Run, set for Sunday, 21 May 2017. In January 1997, CIMA began operations as an amalgamation of t [...]

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Private eye allegations ‘incredibly damaging’

Private eye allegations ‘incredibly damaging’

| 02/03/2017 | 6 Comments

(CNS Business): The Cayman Islands Law Society has described the speculative allegations made, without any proof, by Alva Suckoo in the Legislative Assembly on Monday night as “incredibly damaging” and urged all parties to refrain from further speculation and let the appropriate authorities [...]

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JGHS students learn about legal careers

JGHS students learn about legal careers

| 28/02/2017 | 0 Comments

(CNS Local Life): John Gray High School (JGHS) students recently learned about legal internships at a local law firm along with educational options at the Cayman Islands Further Education Centre. Representatives of HSM IP, including two people who participated in the CIFEC programme, spoke about [...]

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LA to tackle a dozen offshore laws

LA to tackle a dozen offshore laws

| 22/02/2017 | 1 Comment

(CNS Business): The financial services minister will be dominating the legislative agenda when the Legislative Assembly opens Wednesday morning with almost a dozen offshore laws set to be debated by legislators ahead of evaluation by the Caribbean Financial Action Task Force (CFATF) later this y [...]

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Clerks back proposed lawyers law

Clerks back proposed lawyers law

| 21/02/2017 | 50 Comments

(CNS Business): A group of article clerks, law school graduates and students have offered their support in writing to the Legal Practitioners Bill. The letter sent to all 18 members of the Legislative Assembly from the trainee lawyers said they were the ones who stand to be “most affected” by [...]

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Scott serves up CI financial sector at NY breakfast

Scott serves up CI financial sector at NY breakfast

| 14/02/2017 | 0 Comments

(CNS): Cayman Finance CEO Jude Scott served up a detailed helping of the Cayman Islands financial services sector at a New York breakfast earlier this month to over 150 people. Scott told the New York financiers that Cayman was a well regulated jurisdiction that was important to the global econo [...]

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Panton challenges constant regulatory change

Panton challenges constant regulatory change

| 14/02/2017 | 1 Comment

(CNS Business): Financial Services Minister Wayne Panton has pointed to the constant changes and jumping around in the global regulatory environment as a major flaw that prevents solutions being able to show their worth before they are [...]

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Premier heads to London for Brexit talks

Premier heads to London for Brexit talks

| 02/02/2017 | 7 Comments

(CNS Business): The premier will be heading to London Friday with a small government team for the special meeting with UK officials and the heads of other overseas territories on the thorny issue of Brexit and how it will impact Cayman and the other British dependent territories. The Joint Minist [...]

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Minister optimistic over OECD assessment

Minister optimistic over OECD assessment

| 24/01/2017 | 2 Comments

(CNS Business): Financial Services Minister Wayne Panton says he is optimistic that the report on the local financial service sector’s compliance with international standards will be a good one. A team of assessors from the OECD Global Forum on Transparency and Exchange of Information for [...]

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Fidelity drops debate from conference

Fidelity drops debate from conference

| 24/01/2017 | 2 Comments

(CNS Business): Although this is an election year in Cayman, the annual economic conference organised by Fidelity Bank will not include a panel debate or a head-to-head with politicians. The Cayman Economic Outlook conference will, as usual, include an address from the premier but there will be n [...]

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Glidden confirmed as CIMA’s banking boss

Glidden confirmed as CIMA’s banking boss

| 19/01/2017 | 0 Comments

(CNS Business): The acting head of the Banking Supervision Division at the Cayman Islands Monetary Authority has been confirmed in the post. On 1 January Gloria Glidden was given the official title for a job she has be doing since last year. Officials said she would continue to provide supervisi [...]

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