Rivers debates Cayman’s role in Fintech Futures

| 21/03/2018 | 24 Comments
GREAT Festival of Innovation, Cayman News Service

Minister Tara Rivers takes part in a panel discussion on Financial Futures

(CNS): As the GREAT Festival of Innovation in Hong Kong officially opened Wednesday, Financial Services Minister Tara Rivers took part in a panel discussion on ‘Fintech Futures’ and discussed Cayman’s role in the changing technology, which she said was disrupting the financial services industry. Rivers is part of the significant Cayman Islands delegation at the UK sponsored event, which is part of Britain’s aim to explore potential trade agreements after it leaves the European Union to prevent what could be an economic implosion for the former world leader. 

The Cayman Islands is the only overseas territory that the UK invited to the event, and given the CIG’s apparent desire to court Chinese business, the delegation is seizing the opportunity.

During the lively debate on fintech, Rivers spoke about the need for Cayman to cement its position in financial services in the ever-changing world.

“Fintech is disrupting the financial services industry with a range of new technologies. The race is on to develop not just the systems and services that will shape the future of buying, trading, lending and the flow of capital, but also the legislation that will govern it,” Rivers said. “The Cayman Islands, as one of the major financial centres in the world, needs to continue to be innovative and adaptable, creating the environment to facilitate a rapidly changing global financial system.

“We need to continue to adopt appropriate regulation in order to preserve the integrity and stability of the system, while innovating and leading in our efforts to help shape the future of financial services, in order to further cement our leadership position,” she added.

In a release about the event, Premier Alden McLaughlin added that Cayman had already hosted several conferences this year with a fintech focus.

“We know, we are one of the foremost international financial services centres, as well as the hedge fund capital of the world. I believe we are well positioned to serve as the jurisdiction of choice for a new breed of financial services business whose innovations are changing the traditional face of the financial sector,” he said. “When you add to that our enviable position as a tax neutral jurisdiction it makes us an attractive destination in which to do business.”

As the conference continues the premier, and Cayman Islands London representative Eric Bush and Roy Tatum, the head of the premier’s office, were expected to have meetings with City of London officials before the entire Cayman delegation was due to attend a welcome reception hosted by HSBC to celebrate the opening day of the festival.

It continues Thursday when ‘Innovations in Health’ will be the main topic. Health Minister Dwayne Seymour and his chief officer, Jennifer Ahearn, will be there to support Dr Devi Shetty from Cayman Islands Health City  who will be speaking on the subject of “Living Long, Living Better.”

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Category: Business, Financial Services

Comments (24)

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  1. Crab Claw says:

    And will Cayman Island residents be able to participate in these ICO’s and Airdrops as I’m already seeing quite a few banning Cayman residents from participation even those registered in Cayman, so maybe The Cayman Islands should be insuring their residents can participate in the benefits of the worlds financial opportunities than offering the Cayman Islands to the world.

  2. Anonymous says:

    ….meanwhile back at the Ranch! My garbage hasn’t been collected once this week, does Min Seymour drive the trucks ? They were back on schedule till he went away

    • Anonymous says:

      Yes in fact he does drive the trucks and you will be taken care of soon upon his return. Until then I can recommend keeping your organic waste in your freezer, as the neighbors find the odor disagreeable. That’s how we do in WB at least.

  3. Anonymous says:

    At least Wayne Panton knew what he was talking about. I have never seen anyone so out of their depth other than her. And maybe Donald Trump.

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  4. JTB says:

    Did Minister Rivers discuss her expertise in stealing pensions?

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  5. Anonymous says:

    Rivers please return Home Affairs to someone who actually cares about public safety!

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  6. Cor Blimey! says:

    Ms Rivers could do with some specifics rather than blah, blah with meaningless generalities.

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    • Anonymous says:

      Meaningless generalities? She worked ‘disrupting’ into the conversation. For all we know she may have used sustainable or even green. These are very, very powerful wordes.

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  7. annonymous says:

    my, my. how we like to embarrass ourselves!!!

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  8. Jah Dread says:

    Agree mate huh , ya lucky

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  9. anonymous says:

    This Cayman delegation to Hong Kong was the most laughable I have read in a long, long time. Is it April 1st?

    Fintech? My goodness! Why not pull Cayman in to 1990 with debit cards first? Cayman just got online payments. Fintech? I am incredulous. There is not even a reliable internet provider in Cayman.

    Let’s move on to the credentials of the Cayman representatives… yes, non-existent. Maybe better would have been Cindy Scotland? How about Jude Scott? Just off the top of my head. I am sure they are busy at home holding down the fort.

    What a joke. What a lame duck joke.

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  10. Cor Blimey! says:

    It’s all a jolly!. Jolly good time, jolly good hotels and dining, jolly comfortable business class flights and jolly good camaraderie at the bar every night.

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  11. Anonymous says:

    Does she even know what these buzz-words mean or anything about alternative investments? These rambling pageant answers betray her understanding of the topic. She wants to innovate, but preserve the stability of the system…legislate and regulate, yet encourage new technology…which is disruptive, yet we like it because it’s new, but we also want things to stay the same. Are we talking about Bitcoin Cryptocurrency Futures on the CME Globex, or some kind of imaginary security that doesn’t yet exist? Anyone have the ticker for the June2018 Fintech contract? Didn’t think so.

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    • Jah Dread says:

      10:28 her job is not available to you so shut ya mouth go away mama look a boo boo de . Your dislike for she is obvious but just for de record she one a we are just fed up wid dis constant bashing of Caymanians ( whether you are one or not). The time will come dearie it will soon come, hope you prepare ya …….

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    • Anonymous says:

      She’s a professional politician what do you expect her to spout – common sense or BS? Personally I’ll go for the latter every time.

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  12. Anonymous says:

    Hope she has more of an impact there than she did in Education. However, she was at least present and interested, if ill informed. whereas the new minister is away somewhere absent from her role. It may be a good thing given her absolute lack of knowledge in the field of education. Please do not quote how experienced she is with two years teaching experience over 30 years ago.

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