Financial Services
Premier: Cayman will thrive in changing world
(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 always ensured that it kept, and keeps, up-to-date with […]
CIMA celebrates 20 years of service
(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 the Financial Services Supervision […]
Private eye allegations ‘incredibly damaging’
(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 handle this matter, should a formal complaint be made. In a short […]
JGHS students learn about legal careers
(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 internship possibilities at a JGHS assembly held Friday, 24 February.
LA to tackle a dozen offshore laws
(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 year. Government is expected to deal with a significant amount of business […]
Clerks back proposed lawyers law
(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 the proposed legislation and felt […]
Scott serves up CI financial sector at NY breakfast
(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 economy. “The Cayman Islands is the […]
Panton challenges constant regulatory change
(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 replaced. Speaking in Brussels earlier this month about offshore regulation, he said the fundamental flaw that undermines the […]
Premier heads to London for Brexit talks
(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 Ministerial Council Brexit meeting was agreed […]
Minister optimistic over OECD assessment
(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 Tax Purposes visited Cayman earlier this month to conduct the peer review […]
Trump’s Treasury pick failed to disclose Cayman funds
(CNS Business): US President-elect Donald Trump’s pick to be treasury secretary, the controversial former Goldman Sachs banker, Steven Mnuchin, failed to disclose nearly $100 million of his assets to the Senate Finance Committee, the US press is reporting. Mnuchin, known to most Americans as the man who foreclosed on thousands of people’s homes in the […]
High hopes that lawyers bill will pass
(CNS Business): At the opening of the Grand Court Wednesday, Attorney General Samuel Bulgin and the leaders of the two legal professional bodies were all in agreement that the latest draft of the Legal Practitioners Bill was a compromise that most of the profession could support. The attorneys all expressed the hope that this year […]
CIMA releases 2015 Investments Statistical Digest
(CNS Business): The Cayman Islands Monetary Authority (CIMA) has released the 9th edition of the Investments Statistical Digest, which outlines the information that is required to be filed by all regulated funds via the Funds Annual Return (FAR), through CIMA’s electronic reporting systems, up to financial year ends December 2015. The document shows that while […]
Cayman holds bank de-risking discussions in DC
(CNS Business): Ministry of Financial Services and Cayman Islands Monetary Authority (CIMA) officials recently held a second round of meetings in Washington DC with key US Congressional staff, regulators and stakeholders about bank de-risking from the Caribbean perspective. The Cayman officials then contributed to Financial Stability Board discussions on an action plan to address the […]
Hedge fund managers under pressure to adapt
(CNS Business): A survey by consultants Ernst & Young of global hedge fund managers warns that only those who adapt to the needs of investors will see real growth in future. The 10th annual survey found that hedge fund growth has slowed for a variety of reasons, from lacklustre performance to cost concerns. In 2016 […]
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