Tag: Wayne Panton
Cayman faces critics head-on at tax conference
(CNS Business): The financial services ministry brought together some of the jurisdiction’s major critics at a conference last week on the issue of tax transparency. Minister Wayne Panton and his team stressed the importance of engaging with the critics of Cayman’s financial service sector and the issues of transparency when they invited representatives from long-standing […]
Minister signs deal to support small businesses
(CNS Business): The Cayman Islands Small Business Association (CISBA) has been contracted by the commerce ministry to help support and deliver certain small-business services. Minister Wayne Panton and CISBA President Dawn McLean-Sawney signed a memorandum of understanding recently to deliver workshops, mentoring, and consulting to small business owners. “This is another important step forward for government’s […]
Cayman model may lead way on beneficial ownership
(CNS Business): As the technical experts at the financial services ministry continue to work on the systems that will allow UK authorities to access the beneficial ownership details of companies and other financial entities domiciled in Cayman during investigations, the model Cayman is adopting could be followed in many other jurisdictions. The system is not […]
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 […]
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 […]
Panton navigates choppy ‘blacklist’ waters
(CNS Business): The Cayman Islands financial services minister has been doing the rounds in Brussels and London over the last week to persuade European officials that Cayman should not be on any grey or blacklists and to talk about the continued pressure from the UK for Cayman and the other territories to introduce a public register […]
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 […]
Minister aims for business compliance
(CNS Business): Starting this month, the Department of Commerce and Investment will be clamping down on rogue businesses who have not paid for their trade and business licences or who are not compliant with the other laws. Commerce Minister Wayne Panton said he wants to see a level playing field in the local business environment. […]
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 […]
Laws drafted to pave way for beneficial ownership access
(CNS Business): Three new pieces of legislation are expected to be gazetted this week, paving the way for the Cayman Islands to create a platform whereby relevant authorities in other countries can access information on beneficial owners of companies and other financial entities registered here. The publication of the laws will open another 21-day window […]
Panton: Objecting lawyers wrong on bill
(CNS Business): The public criticisms made by four local attorneys regarding the Legal Practitioners Bill have been roundly refuted by the financial services minister. Wayne Panton has indicated that the four sole lawyers are wrong on all of the critical points they made about the proposed legislation and he will not be going back to […]
Panton talks de-risking with US lawmakers
(CNS Business): Financial Service Minister Wayne Panton is continuing to talk with US lawmakers about how the move by American banks to drop money service business clients is impacting the Caribbean region and is seeking a way to address the problem. The banks’ efforts to comply with more stringent guidelines regarding money laundering has seen […]
Government encourages women into business
(CNS): The Ministry of Education, Employment and Gender Affairs is hosting a ‘Lunch and Learn’ session on Wednesday, 30 November, to promote women in business to mark Women’s Entrepreneurship Day. Gender Affairs Minister Tara Rivers said economic participation was crucial to gender equality and the lunch was aimed at celebrating women who own or lead […]
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