Finance
Former Cayman Finance CEO to join Harneys
(CNS Business): Gonzalo Jalles, who has been CEO of Cayman Finance for the past two years, will join Harneys as Head of Fiduciary and New Services in Cayman later this year. In this role, Jalles will lead the development of the company’s fiduciary and corporate services offering in Cayman and beyond, and will work closely with […]
Convicted money launderers now whistleblowers
(CNS Business): Canadian investment advisor Eric St-Cyr, who was working from a Cayman Islands-based financial services firm, and Patrick Poulin, a Canadian attorney based in the Turks and Caicos Islands, were both sentenced Friday to serve 14 months in prison and three years of supervised release for conspiring to launder money. The two men are […]
Walkers hosting ‘Fundamentals’ seminars in US and London
(CNS Business): Economics Editor, writer and broadcaster, Robert Peston, will be the keynote speaker in London next week for the Walkers Fundamentals Investment Funds seminar series, with a further two events in the series taking place in November in New York and San Francisco. Hosted by international offshore law firm Walkers, the seminars, ‘Everything Offshore […]
Harneys sponsors young Caymanian to pursue law degree
(CNS Business): Sydonie Barrett (19) , a former student at St Ignatius School, has been awarded a scholarship by Cayman law firm Harneys to study law at the University of Surrey in the UK. Managing Partner at the firm, Marco Martins, said that Harneys had given Barett the opportunity to qualify with a law degree and postgraduate qualification, which in turn will […]
GFCI 16 methodology questioned by Cayman Finance
(CNS Business): Cayman Finance has criticised the overall methodology of the sixteenth Global Financial Centres Index (GFCI 16), which found that the Cayman Islands dropped 11 ranks among financial centres around the world since GFCI 15, and now sits at #54. But the CEO of Cayman’s financial services umbrella organization said that some of the […]
Cayman Finance CEO to step down
(CNS Business): The first person to hold the post of Chief Executive Officer for Cayman Finance, Gonzalo Jalles, will be leaving the organisation in mid-November, the umbrella organisation for Cayman’s finance industry has announced. Ian Wight, Chairman of Cayman Finance, thanked Jalles for his significant contributions to the organisation and, more broadly, Cayman’s financial services […]
CIMA to co-host insurance seminar with Fitch Ratings
(CNS Business): The Cayman Islands Monetary Authority (CIMA) will co-host a seminar with Fitch Ratings in the Cayman Islands next month. Fitch currently rates the securities of 92 different entities domiciled in the Cayman Islands, and considers it an important market. Sponsors of the event include Cayman Islands Insurance Association, Greenlight Re, RBC Wealth Management, Cayman […]
Ogier Fiduciary Services re-brands following MBO
(CNS Business): Ogier Fiduciary Services launched its new brand and identity today, following the management buyout (MBO) from the Ogier Group in June. Chief executive officer Paul Willing said the additional investment would enable the firm to make their client service even better. Elian employs 500 people across 10 offices; the group has delivered 15 […]
Cayman loses ground in global index
(CNS Business): The Cayman Islands has dropped 11 ranks in the Global financial Centres Index 16 (GFCI 16) in the most recent rating of financial centres published this month. Down 23 points, Cayman is now ranked at #54 in the global listing, compiled by the Z/Yen Group, and third in the list of offshore centres, […]
IRS warns IFIs of FATCA scams
(CNS Business): The Internal Revenue Service today issued a fraud alert for international financial institutions complying with the Foreign Account Tax Compliance Act (FATCA). Scam artists posing as the IRS have fraudulently solicited financial institutions seeking account holder identity and financial account information. The IRS said it does not require financial institutions to provide specific […]
Major roadblock for cryptocurrency ‘haven’
(CNS Business): Capital Treasury Services (CTS), the company that linked Bitcoin businesses to banks in the Isle of Man, has said it will no longer be doing business with digital currency businesses as of next month. CTS said that while government was supportive of efforts to build Bitcoin businesses, its banking partners were not so positive. […]
Still time for input on Sunday trading
(CNS Business): The public has two more weeks to give input on whether or not the Cayman Islands should revise its Sunday trading laws. Commerce Minister Wayne Panton has said he wants to modernize the law and make it more appropriate for the current business environment. The goal, he has said, is to revise the […]
Public consulted on daylight savings
(CNS Business): The Cayman Islands Government is considering whether it would be beneficial to adopt Daylight Savings Time (DST) – the practice of adjusting clocks one hour forward during the longer summer months, and back again in the fall – and is inviting the public to give their views on the subject by the end […]
Former CIMA division head joins private sector
(CNS Business): A former senior manager at the Cayman Islands Monetary Authority has joined boutique corporate governance services firm, Highwater, as a director. Yolanda Banks-McCoy was until recently the Head of CIMA’s Investments and Securities Division, where she was responsible for the effective regulation and supervision of hedge funds, fund administrators and securities investment companies […]
Update to banking regulations enhances Cayman’s appeal
The Cayman Islands have for decades been one of the world’s leading banking and financial centres, currently ranking as the fifth largest banking centre worldwide, with over 200 banks, including 40 of the world’s 50 largest banks, and over US$1.5 trillion in assets, writes Marco Martins, Managing Partner, Harneys. As is the case in most […]
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