Financial Services
UK-Cayman row over cooperation intensifies
(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 [...]
Rivers heads to Brussels to keep Cayman off blacklist
(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 [...]
Republic Bank pushes bid for Cayman National
(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 [...]
CIG denies uncooperative claims by UK crime agency
(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, [...]
CSX board violated law over CEO job, finds IAS
(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 [...]
Cayman plays part in Amazon deforestation
(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 [...]
CIMA signs deal with American insurers group
(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 [...]
Top court confirms extent of CIMA’s powers
(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 [...]
Panton expecting busy time at helm of CIMA
(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 [...]
Rivers seeks support from US senators
(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 [...]
Recent Comments