Tag: Cayman Finance
Cayman registers 30k funds for the first time
(CNS): Officials have claimed that the Cayman Islands continues to cement its place as a global leader in investment funds after the jurisdiction topped a record-breaking 30,000 funds. The Cayman Islands Monetary Authority (CIMA) said that as of 4 September, the total number of registered investment funds in Cayman was 30,038 (17,080 private funds and […]
Financial crime talking shop emerges from JMC
(CNS): Later this year, the British Virgin Islands will host the inaugural annual meeting between the United Kingdom and its overseas territories to discuss tackling illicit finance. This new “ministerial-level annual dialogue” emerged from this year’s UKOT Joint Ministerial Council meeting, held in London last week, and aims to defend financial systems against illicit actors, […]
Reinsurance sector ‘thriving’ in Cayman, expert says
(CNS): The reinsurance sector in Cayman is thriving, according to Graham Mackay, the chairman of the Cayman International Reinsurance Companies Association. Mackay was one of a number of local delegates who took part last week in the annual New York breakfast briefing, the first after a three-year hiatus due to the pandemic, hosted by representatives […]
Cayman faces new EU blacklisting
(CNS): The European Parliament is planning a new blacklist of tax havens and the Cayman Islands appears to be at the heart of the move. While local political leaders here have made much of the efforts last year to get this jurisdiction removed from the existing blacklist, MEPs believe the removal of Cayman from it […]
Cayman Finance floats option to contentious bills
(CNS): Cayman Finance has proposed an alternative approach to the amendments government plans to make to several laws in order to address compliance issues regarding transparency of accounting records for offshore service providers. The list of bills stirred up controversy with stakeholders when they were circulated to industry players, raising alarm that they posed a […]
Offshore raises $124k for food bank van
(CNS): The local food bank was already stretched supporting families here in dire need of food before the COVID-19 pandemic hit. But since then the poverty and vulnerability of many people has been exacerbated by the measures taken to suppress the virus. As a result, Cayman’s Good Samaritan Food Bank welcomed $124,000 raised by the […]
Cayman Finance says sector keeping economy going
(CNS): Officials from Cayman Finance are reminding the community of the offshore sector’s importance to the country during the current COVID-19 health crisis. This comes after Premier Alden McLaughlin recently implied that the financial sector had been less than cooperative over efforts to shut down offices here and implement a ‘stay in place’ order rather […]
Offshore sector scrambles to repair damage
(CNS): Various major law firms have issued advisories and statements to clients over the last two days after a pretty bad day on Tuesday for the Cayman Islands’ reputation on the global financial stage. Cayman was blacklisted by the EU because government missed a deadline it was well aware was approaching, and then topped the […]
Cayman develops online AML learning platform
(CNS): As part of continuing efforts by the Cayman Islands to fill gaps in its regime dealing with financial crime identified by the Financial Action Task Force (FATF) and avoid potential black-listing, the government, with support from Cayman Finance, has developed online learning modules relating to anti-money laundering, countering terrorist financing, and countering proliferation financing […]
Premier makes most of NY trip
(CNS): As Grand Cayman’s dump ignited with one of its worst blazes in years and government’s lawyers were in court arguing that the cruise port referendum law was fine, Premier Alden McLaughlin and his delegation were enjoying a visit to New York this week. The trip to Manhattan was to promote the offshore services sector […]
Cayman fighting tax evasion, Rivers tells New Yorkers
(CNS): Financial Services Minister Tara Rivers told an audience in New York this week that the Cayman Islands had been doing good work in the fight against tax evasion, money laundering and countering terrorist financing, as she delivered an address at the 6th Annual Cayman Finance New York Breakfast Briefing at the Harvard Club. The Cayman delegation had opted […]
