Tag: beneficial ownership
UK Companies House vulnerable to crooks
(CNS): The UK is planning the biggest overhaul of its corporate register at Companies House since the nineteenth century following concerns it is being used by criminals around the world to launder their dodgy cash. According to reports in the British media, the 175-year-old institution will be given more power to check information from people […]
Bermuda politicians plan debate on FAC report
(CNS): Politicians in Bermuda plan to debate a motion in their legislature calling on the UK government to reject recommendations in a new report from the Foreign Affairs Committee over fears that it may be gathering traction in the British parliament. So far there has been no indication that Cayman Islands Premier Alden McLaughlin plans […]
Crown Dependencies fight against BO registers
(CNS): The leaders of Britain’s Crown Dependencies were in London Monday in an effort to stop any attempts by the UK government to impose public beneficial ownership registers on them as it has on the British Overseas Territories. Like the BOTs, the Isle of Man, Jersey and Guernsey are under threat of being blacklisted by […]
US could end up on EU blacklist, say officials
(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 […]
Date set for UK-CIG constitutional talks
(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 […]
Governor hopes BO register will be global standard
(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 […]
Bush grilled about UK-Cayman relationship
(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 […]
UK and local agencies agree on info exchange
(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 […]
EU issue remains ‘fluid’ as deadline approaches
(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 […]
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 says is the declining co-operation compared to other territories.
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 sector here and is currently drafting legislation to […]
