Tag: Sanctions and Anti-Money Laundering Bill
UK confirms OTs have till 2023 to make BOs public
(CNS): Before the end of this year Britain’s overseas territories minister will be issuing an order-in-council in line with the Sanctions and Anti-Money Laundering Act passed in the UK parliament in 2018, but the territories still have until 2023 to make their beneficial ownership registers public. In a written statement issued on Thursday, Baroness Sugg […]
Opposition challenges constitutional reform
(CNS): The official opposition is challenging government’s attempts at constitutional reform. MLA Chris Saunders (BTW) has written to the overseas territories minister in the UK, Lord Tariq Ahmad, asking him not to allow any changes to the Cayman Islands Constitution without a referendum. The opposition MLA appears to be supported by other members of the […]
OT minister wants to avoid BO confrontation
(CNS): Lord Ahmad of Wimbledon has said that he does not see a need for the UK to get into any kind of confrontation with its overseas territories impacted by legislation passed in Britain that imposes public beneficial ownership registers on those with financial service sectors. During a visit to Bermuda last week the FCO […]
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 […]
Opposition: UK report needs joint response
(CNS): The opposition leader has warned that the Cayman Islands needs to take a measured, serious and joint approach to the recently published report by the UK parliament’s Foreign Affairs Committee about the British Overseas Territories (BOTs). Ezzard Miller said that Premier Alden McLaughlin’s recent response that he would lead the charge for independence if […]
CIG: Dutch blacklisting unjustified diversion tactic
(CNS): Government has accused The Netherlands of including the Cayman Islands on its separate blacklist as a way of diverting criticisms of its own tax practices by attacking legitimate tax regimes. Officials here said it was “unjustified” and “wholly lacking in fairness and credibility” to place Cayman on the list of 21 jurisdictions. Cayman found itself […]
UK interests ‘paramount’ in Cayman Constitution
(CNS): The premier’s office has said that the constitutional talks between the Cayman Islands delegation and the UK, which concluded Monday, were “constructive and positive” and that the British government had committed to formally responding to the Cayman proposals in the coming weeks, having already agreed to some as yet undisclosed changes to the current […]
Government and opposition present united front in UK
(CNS): Following the Overseas Territories Joint Ministerial Council meetings in London this week, which closed on Wednesday night, the Cayman delegation will remain in the UK to engage the British government in talks about the Cayman Islands Constitution. The government team will be joined by members of the opposition, as the two groups put aside […]
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 […]
Governor Roper hopes to stay for full term
(CNS): Cayman Islands Governor Martyn Roper has said that he will be serving as Britain’s representative here for between six to nine months but hopes he will be staying much longer. Addressing the Legislative Assembly after he was sworn into office on Monday, he acknowledged that his arrival was unusual and noted the difficulties, frustrations […]
