RSSFinancial Services

UK-Cayman row over cooperation intensifies

UK-Cayman row over cooperation intensifies

| 18/09/2018 | 76 Comments
(CNS): The row between the Cayman Islands Government and the UK intensified on Monday, as Foreign and Commonwealth Office officials stood by the National Crime Agency’s complaints, while Premier Alden McLaughlin continued to deny that Cayman was the cause of the disagreement over what the UK s [...]

Continue Reading

Rivers heads to Brussels to keep Cayman off blacklist

Rivers heads to Brussels to keep Cayman off blacklist

| 18/09/2018 | 18 Comments
(CNS): Financial Services Minister Tara Rivers is in Brussels this week with the aim of keeping the Cayman Islands from being blacklisted by the European Union at the end of this year over concerns about unfair tax practices. The Cayman government has been engaging with the financial services secto [...]

Continue Reading

Republic Bank pushes bid for Cayman National

Republic Bank pushes bid for Cayman National

| 18/09/2018 | 43 Comments
(CNS): Republic Bank TT (Barbados) Ltd (RBTTBL), a wholly-owned subsidiary of Republic Financial Holdings Ltd (RFHL), has signed “an implementation agreement” with Cayman National Corporation Ltd in its continued efforts to take over the local financial institution. Shareholders have been offere [...]

Continue Reading

CIG denies uncooperative claims by UK crime agency

CIG denies uncooperative claims by UK crime agency

| 15/09/2018 | 85 Comments
(CNS): The premier’s office has denied allegations made by Donald Toon, Director Prosperity (Economic Crime and Cyber Crime) of the UK’s National Crime Agency, that the Cayman Islands Government has not been cooperative with the NCA’s investigations. In a BBC report on Saturday, [...]

Continue Reading

CSX board violated law over CEO job, finds IAS

CSX board violated law over CEO job, finds IAS

| 13/09/2018 | 67 Comments
(CNS): A review undertaken by the government’s Internal Audit Service (IAS) earlier this year into the process surrounding the recruitment of the chief executive officer for the Cayman Islands Stock Exchange in 2017 has found that it was not in compliance with the Public Authorities Law. Never [...]

Continue Reading

Cayman plays part in Amazon deforestation

Cayman plays part in Amazon deforestation

| 15/08/2018 | 47 Comments
(CNS): A new report published by researchers this week in the academic journal, Nature, Ecology and Evolution, states that tax havens and offshore financial centres, including the Cayman Islands, are supporting unsustainable practices such as Amazon deforestation. While tax havens have long been bla [...]

Continue Reading

CIMA signs deal with American insurers group

CIMA signs deal with American insurers group

| 13/08/2018 | 1 Comment
(CNS): The Cayman Islands Monetary Authority has signed a memorandum of understanding with the National Association of Insurance Commissioners (NAIC) to help insurance supervisors in the United States and Cayman Islands coordinate on regulatory issues with the goal of efficient, fair, safe and stabl [...]

Continue Reading

Top court confirms extent of CIMA’s powers

Top court confirms extent of CIMA’s powers

| 08/08/2018 | 4 Comments
(CNS): The Cayman Islands  Monetary Authority has said that a Privy Council decision last month has confirmed the regulator’s powers to compel non-licensee Cayman Islands registered firms to give up information on behalf of other overseas regulators under the authority’s 2018 Law. Accor [...]

Continue Reading

Panton expecting busy time at helm of CIMA

Panton expecting busy time at helm of CIMA

| 26/07/2018 | 42 Comments
(CNS): Wayne Panton, the former financial services minister who was recently appointed as chair of the Cayman Islands Monetary Authority Board, is expecting a busy time ahead, given the numerous international and local issues impacting the country’s financial services sector. The appointment o [...]

Continue Reading

Rivers seeks support from US senators

Rivers seeks support from US senators

| 26/07/2018 | 15 Comments
(CNS): Financial Services Minister Tara Rivers was in Washington, DC, last week, trying to persuade US Senators and others that Cayman’s financial services industry is well regulated and adhering to tax transparency standards. Picking up from an earlier visit, the minister spoke with American [...]

Continue Reading

90% increase in suspicious activity reports

90% increase in suspicious activity reports

| 24/07/2018 | 19 Comments
(CNS): A massive increase in the number of suspicious transactions was recorded by the Cayman Islands Financial Reporting Authority but there has been little explanation for the 90% jump in the number of suspicious activity reports (SARs) between 1 July and 31 December 2017 compared to the same peri [...]

Continue Reading

SIGN UP FOR THE CNS NEWS LETTER, SENT EVERY WEEKDAY STRAIGHT TO  YOUR INBOX