Finance
Deadline extended for risk assessment surveys
(CNS Business): Cayman Finance officials said when it comes to tackling money laundering and terrorist financing in the Cayman Islands, it’s all about working together as an industry to create awareness and solutions to this issue. The firm recently hosted a free informational seminar regarding the Cayman Islands Government’s Money Laundering/Terrorist Financing National Risk Assessment […]
Finance firm sues former rogue boss
(CNS Business): One of Cayman’s leading offshore financial services firms is suing a former director for a catalogue of wrongdoing that the company claims could have damaged its reputation. DMS has filed a lawsuit against Jazeb Jones, who was until earlier this month the MD of its bank and trust arm, over unauthorized relationships with […]
Samson & McGrath announce new partners
(CNS Business): Well-known local attorneys Benjamin Tonner and James Kennedy, both familiar faces in the Cayman courts, have been made partners in the Cayman Islands law firm, Samson & McGrath. The firm provides a broad range of legal services to the local and international market, and its twelve attorneys regularly appear before the Grand Court, Court […]
Cayman moves up GFCI rankings
(CNS Business): The Cayman Islands has taken a big leap in the most recent rating of financial centres, the Global Financial Centres Index 17 (GFCI 17). In the March 2015 report, Cayman moved up 15 spots in the global listings since last year, surpassing competing jurisdictions like the Channel Islands, Bermuda and the Bahamas.
UK demands ownership registry
(CNS Business): UK leaders have been battling with British overseas territories and crown dependencies to “open their books” and comply with the demands to create a beneficial ownership registry, which would affect around 2.5 million companies. Now, offshore financial centres, including the Cayman Islands, are being told to end their fight against beneficial ownership and reveal the […]
ESO’s annual surveys start Monday
(CNS Business): Starting on Monday 30 March, the Economics and Statistics Office (ESO) will conduct multiple surveys to measure the economic performance in the Cayman Islands. The annual surveys apply to all who produce goods and services in the area.
Cayman gives bootlegs the boot
(CNS Business): Big changes are coming to Cayman’s current copyright laws, change that will not only offer better intellectual property protection, but also increase government revenue by multiples of $5 to $10 million in direct benefits. On Thursday government officials and cabinet members held a press conference to discuss the details of the current laws […]
SEC reduces injunction on Caledonian’s US assets to $7M
(CNS Business): The US Securities and Exchange Commission reduced the freeze on the beleaguered Caledonian Bank’s assets this week from $76 million to just $7 million, the creditors have revealed. The bank was brought to its knees when the SEC filed suit against it and its bosses over an alleged $75m penny stock scam and […]
Dart boss shares UK platform with premier
(CNS Business): Cayman’s leader, Premier Alden McLaughlin, was joined by the COO of Dart Enterprises at the House of Lords this week in promoting Cayman when he delivered a key-note address at the Caribbean Council reception. As McLaughlin sold the crowd on the benefits of investing in Cayman and the future projects government has planned, he […]
Cayman on US money laundering list
(CNS Business): Seven Caribbean countries find themselves on the US “Major Money Laundering List for 2015”. The United States Government published its “2015 International Narcotics Control Strategy Report” on Wednesday, and the Cayman Islands is on the list.
Liquidators call first creditors’ meeting for Caledonian
(CNS Business): Creditors for Caledonian bank are scheduled to have their first meeting with the liquidators next month as they begin the process of finding out who the bank owes and how much. One of Cayman’s oldest offshore banks, Caledonian and Caledonian Securities were brought to their knees last month when the Securities and Exchange Commission (SEC) […]
Walkers announces 3 new attorneys
(CNS Business): Walkers Cayman Finance Group has announced three new Caymanian attorneys. Having successfully completed the firm’s Articled Clerk Training Programme, Patrick McConvey, Arikka Ebanks and Nane Erb were admitted as attorneys-at-law before Justice Charles Quin. The admissions were moved on 17, 18 and 19 March by Walkers Partner, Colette Wilkins, at the Grand Court of the […]
Cayman AEOI Portal now live
(CNS Business): On Friday 20 March at 4:15pm the Cayman Islands officially opened the doors to the Automatic Exchange of Information (AEOI) Portal to report tax information to other jurisdictions. The Financial Services Ministry has announced the AEOI Portal is now available for financial institutions to register and report customer data to the Tax Information Authority […]
Chief Justice to speak at INSOL
(CNS Business): The head of Cayman’s judiciary is stepping away from the judge’s bench and heading to California to speak at a multinational judicial colloquium on cross-border insolvency this Sunday. Chief Justice Anthony Smellie will be addressing the Eleventh Joint Multinational Judicial Colloquium on handling cross-insolvency cases where there are assets in more than one […]
Schroders closing Cayman branch
(CNS Business): An asset management company is closing its branch in the Cayman Islands. Schroders Cayman Bank & Trust Company Ltd is a global investment company that opened its doors for business in the Cayman Islands in 1972, officials confirmed with CNS Business Wednesday.
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