Tag: beneficial ownership
Cayman Finance remains calm, Chamber outraged
(CNS): Jude Scott, the CEO of Cayman Finance, has responded relatively calmly to the vote in the UK parliament yesterday, which will see the British government impose a public beneficial owners register on the Cayman Islands, as he pointed to the two-year process, during which time the dialogue with the UK would continue. Meanwhile, Chamber […]
Bush tells BBC that Cayman is proud to be British
(CNS): Eric Bush, the Cayman Islands’ representative in London, told BBC Radio 4’s flagship morning news programme, Today, that the Cayman Islands is a part of the UK because it wants to be and is proud to be British. Speaking to John Humphrys in the wake of the vote in the UK parliament yesterday to […]
Premier calls UK move on BOTs ‘colonial despotism’
(CNS): Premier Alden McLaughlin has said that the Cayman Islands Government is considering a legal challenge to the news today that the British parliament has voted to force its overseas territories to introduce public registers showing the beneficial owners of the companies domiciled there. “The actions of the House of Commons in seeking to legislate for […]
UK to force BOTs to make BO registers public
(CNS): The Cayman Islands and other British Overseas Territories will be forced to make the beneficial owners of companies registered in their jurisdictions public after a cross-party amendment to a Sanctions and Anti-Money Laundering Bill was accepted by the UK government Tuesday. In a significant blow to the BOT’s financial service sectors, they will be […]
Cayman facing more pressure over ownership
(CNS): The Cayman Islands is likely to face increasing pressure over the coming months to make its beneficial ownership registry public. As the British government seeks to sanction Russian oligarchs connected to the Kremlin in the wake of the poisoning in England of former spy Sergei Skripal and his daughter, UK officials are again turning […]
British Lords vote down public BO register for BOTs
(CNS): The House of Lords has rejected a proposal calling for the Cayman Islands and five other British Overseas Territories to implement a public register of beneficial owners behind offshore companies registered in the jurisdictions. The vote took place during a debate on the proposed Sanctions and Anti-Money Laundering Bill, when a public register requirement […]
Notes on BO exchange details published
(CNS Business): The arrangements under which the UK law enforcement authorities will be able to access information on the beneficial owners of offshore companies registered in Cayman have been posted on the FCO website for several months, though local officials say that the technical aspects of how the data will be accessed is still being […]
