Tag: Public Accounts Committee
Fidelity CEO admits breaking law
(CNS): Brett Hill, the CEO of Fidelity, has said it has not been possible to meet the requirements of the amended Pensions Law, which allows members to take cash from their pension fund to help them through the COVID-19 crisis, because the company needed more time.
Pension boss justifies withdrawal fees
(CNS): Varying fees being charged by private sector pension funds to people accessing their cash to help them weather the COVID-19 economic collapse, in line with the recent change to the law, were defended by government’s pensions boss on Wednesday. Concerns have been raised that some pension administrators are taking advantage of members by charging […]
‘Culture change’ needed on private pensions
(CNS): Public Accounts Committee member Chris Saunders made it clear to regulators today that the culture surrounding Cayman’s mandatory private sector pension funds needs to change. Saunders, who has been a vocal advocate against the system, said the Department of Labour and Pensions (DLP) did not have the resources to police the plans where administrators […]
Clarity needed on who runs the court, says DG
(CNS): Questions about the efficiency of the Cayman Islands court system that were raised in a report by the auditor general were the focus of a Public Accounts Committee hearing Monday, when the deputy governor revealed that, when it comes to the administration, who runs what is not entirely clear. Franz Manderson said that while […]
Gov’t compliance with procurement rules queried
(CNS): Public Accounts Committee Chair Ezzard Miller remains concerned, following the latest PAC meeting, that government is not complying with its own new rules on procurement. Although new legislation has been implemented and a new more transparent, independent regime created to manage how government buys goods and services, Miller is worried the new rules are […]
Miller retakes PAC chair after LA wrangle
(CNS): Government’s attempt to take control of the Public Accounts Committee following the resignation of Ezzard Miller, just as it is embarking on a number of major capital projects, was thwarted Friday when Chris Saunders declined to take up the nomination for chairman. The opposition had accused government of stacking the committee and Saunders refused […]
Miller steps down from PAC
(CNS): The outgoing opposition leader, Ezzard Miller, has announced his intention to also resign from the chairmanship of the Public Accounts Committee (PAC). Following his resignation last week as the formal opposition leader, he has also decided to step down from one of the most important parliamentary committees regarding government accountability. Miller, who has held […]
OfReg dodges funding bullet from MLAs
(CNS): The utilities regulator, OfReg, came close to missing out on an additional $1.3 million in funding during the recent Finance Committee hearings after MLAs were tied on a vote for the money. Opposition members raised concerns over the regulator’s failings to address fuel pump prices and the wholesalers’ acquisition of gas stations. Several members […]
Miller calls for new approach to board selection
(CNS): Opposition Leader Ezzard Miller, who is also Public Accounts Committee chairman, is calling for a different approach to appointing members to public sector boards, noting that government has been recycling the same old members for decades. In the PAC hearing last week, Miller said that the only reason why government was struggling to find […]
CPA not covered by PA law, claim officials
(CNS): Planning Director Haroon Pandohie and the chief officer in the ministry responsible for the Central Planning Authority have both said that the entity does not fall under the Public Authorities Law. Despite concerns from the public and some politicians that it is the Cayman Islands’ most conflicted board, the CPA does not fall under […]
ACC chair says unit busier than ever
(CNS): The Anti-Corruption Commission will need more investigators if the number of reports continues at current levels, according to ACC Chair Richard Coles, a former attorney general of the Cayman Islands. He told the Public Accounts Committee last week that the ACC could proceed with more cases if his team was doubled to match the doubling of […]
