Tag: beneficial ownership

US could end up on EU blacklist, say officials

US could end up on EU blacklist, say officials

| 13/12/2018 | 63 Comments

(CNS): As the European Union updates its blacklist of global financial centres, the United States could end up on the list next year, Bloomberg has reported. Many critics of the attacks on offshore centres have often pointed to the hypocrisy relating to how onshore financial centres in major countries are given a pass while offshore […]

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Date set for UK-CIG constitutional talks

Date set for UK-CIG constitutional talks

| 22/11/2018 | 31 Comments

(CNS): After almost six months of trying to secure a meeting with the British government to discuss the constitutional relationship between Cayman and the UK, the premier has confirmed that talks have now been set for next month. Alden McLaughlin said that after the Overseas Territories Joint Ministerial Council meeting in London, he will head […]

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Governor hopes BO register will be global standard

Governor hopes BO register will be global standard

| 05/11/2018 | 34 Comments

(CNS): Governor Martyn Roper has said he hopes the Cayman Islands will not be going it alone when it introduces a public register identifying the beneficial owners of companies and other financial entities, as the UK will be promoting this as a global standard. There are international efforts now afoot to ensure transparency in the […]

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Bush grilled about UK-Cayman relationship

Bush grilled about UK-Cayman relationship

| 16/10/2018 | 36 Comments

(CNS): Eric Bush was asked if the Cayman Islands was on a collision course with the British government over the issue of beneficial ownership when he faced questions from UK members of parliament on Tuesday, when he appeared before the House of Commons Foreign Affairs Select Committee. The committee is reviewing Britain’s relationship with all […]

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UK and local agencies agree on info exchange

UK and local agencies agree on info exchange

| 08/10/2018 | 11 Comments

(CNS): British and Cayman Islands crime fighting agencies appear to have resolved their differences over the exchange of information on beneficial ownership information in criminal probes following recent complaints from the National Crime Agency (NCA) that the Cayman authorities were being uncooperative. Although Premier Alden McLaughlin had refuted these allegations, in a joint statement from […]

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EU issue remains ‘fluid’ as deadline approaches

EU issue remains ‘fluid’ as deadline approaches

| 04/10/2018 | 8 Comments

(CNS): Financial Services Minister Tara Rivers described the situation between the Cayman Islands and the European Union over the looming threat of blacklisting at the end of this year as “fluid” following meetings in Brussels last month. The Cayman Islands avoided the latest offshore finance list in 2017 regarding the tax regime here but was […]

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UK-Cayman row over cooperation intensifies

UK-Cayman row over cooperation intensifies

| 18/09/2018 | 79 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 says is the declining co-operation compared to other territories.

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Rivers heads to Brussels to keep Cayman off blacklist

Rivers heads to Brussels to keep Cayman off blacklist

| 18/09/2018 | 19 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 sector here and is currently drafting legislation to […]

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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, Toon said NCA inquiries had led them to offshore firms registered in Cayman but […]

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CARICOM backs BOTs in constitutional fight with UK

CARICOM backs BOTs in constitutional fight with UK

| 09/07/2018 | 17 Comments

(CNS): UPDATED with comment from Premier: Caribbean leaders have expressed their solidarity with the British Overseas Territories in the region that are being adversely affected by the unilateral action of the UK to legislate domestic policy constitutionally devolved to them without the consent and involvement of their people. According to a communiqué released by CARICOM at the […]

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Premier seeks CARICOM help with UK dispute

Premier seeks CARICOM help with UK dispute

| 02/07/2018 | 19 Comments

(CNS): The Cayman Islands premier is turning to regional organisation CARICOM for help in its fight with the United Kingdom over what he has termed as the “constitutional overreach” by the British government after it passed legislation imposing public beneficial ownership registers on the overseas territories. Alden McLaughlin and Attorney General Samuel Bulgin are heading to […]

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