Tag: André Ebanks
Cayman Islands to get off EU black list next month
(CNS): The Cayman Islands will finally be removed from the European Union’s black list of jurisdictions with deficiencies in their AML/CFT (anti-money laundering and countering the financing of terrorism) regimes on 7 February, government officials have said. An amendment to the relevant EU regulation says that, based on Cayman’s removal from the Financial Action Task Force’s AML ‘grey […]
Bus donated anonymously to Sunrise Centre
CNS: A generous anonymous donor has purchased a wheelchair-accessible minibus, worth an estimated CI$85,000, for the Sunrise Adult Training Centre (SATC). Sunrise provides comprehensive support and training for adults with diverse abilities, and the Ministry of Social Development said in a release that the bus “will significantly enhance the centre’s ability to serve its clients […]
Cayman’s AML ‘delisting’ begins in Europe and UK
(CNS): Following the removal of the Cayman Islands from the Financial Action Task Force grey-list last month, the jurisdiction is now also being removed from other lists related to anti-money laundering, countering the financing of terrorism and counter-proliferation financing (AML/CFT/CPF) regime.
Christmas bonus and pension rise cleared for payment
(CNS): Cabinet has approved a $250 Christmas bonus for those who receive long-term financial assistance through the Needs Assessment Unit (NAU) and recipients of the Seafarers and Veterans Ex-Gratia Benefit. Officials have also confirmed that the increase from $950 to $1,250 for former public sector workers receiving the ex gratia pension, promised by Premier Juliana […]
Fee waivers to remain in place for small business
(CNS): The government has announced that the fee exemptions or major discounts for micro and small businesses will not change next year. Owners will continue to pay either no fees or significantly reduced fees for trade and business licences in 2025 as part of the continuation of the Small Business Incentive Programme (SBIP), which began […]
Bills passed to improve BO disclosure regime
(CNS): Financial Services Minister André Ebanks has steered several bills through parliament, including a stand-alone Beneficial Transparency Ownership Act to improve the current regime on how information relating to who benefits from financial entities registered here is shared and to stay ahead of changing standards and rules. Explaining the law during last week’s special parliamentary […]
Bernie moves to backbench in new UPM line-up
(CNS): Bernie Bush MP (WBN), the former culture minister, has sacrificed his Cabinet post in the new government line-up and will be moving to the back-benches. According to a press release about the new government that was both formed and sworn in behind closed doors on Wednesday, Bush volunteered to give up his ministry to […]
André lays out PACT doubts, warns of resignation
(CNS): André Ebanks MP (WBS) fell short of a public resignation from PACT on Tuesday night in the parliament, but he made it clear he had concerns about the PACT group’s conduct and culture that could see him resign in the near future. Riding high on his success as the financial services minister that got […]
Cayman finally off FATF AML grey list
(CNS): The Cayman Islands has finally been removed from the Financial Action Task Force(FATF) anti-money laundering “grey list” after more than two years of trying. The jurisdiction was listed in February 2021 due to a failure to successfully prosecute or sanction those involved in financial crime. FATF announced the decision to de-list Cayman following the […]
Welfare overhaul won’t be easy, warns minister
(CNS): The Cayman Islands Government is preparing for the implementation of new laws governing welfare support next month, including the transition of the Needs Assessment Unit into the Department of Financial Assistance. However, Social Development Minister André Ebanks has warned that it will take time for the changes to have an impact and it “won’t […]
Welfare reform to roll out after years of neglect
(CNS): Cabinet has approved new regulations that pave the way for the launch of the Department of Financial Assistance later next month (replacing the Needs Assessment Unit) and a complete transformation in the way the Cayman Islands handles welfare support. The Financial Assistance Regulations, 2023 and the Financial Assistance (Appeals) Regulations, 2023 were rolled out […]
