Tag: Tara Rivers
Major risks found in Cayman’s finance sector
(CNS): The Cayman Islands Government is faced with a long ‘to do’ list to address “major deficiencies” inhibiting the jurisdiction’s “ability to analyse and understand its risks”, according to a new report. Well aware that the latest peer review on how Cayman combats money laundering and terrorist financing was likely to be damning, the premier […]
Rivers says Barkers proposal ‘not acceptable’
(CNS): The representative for West Bay South, Tara Rivers, has said that an application by Handel Whittaker for a coastal works licence in relation to a controversial proposed development in the Barkers area is “not acceptable”. In contrast to comments made on Monday by her Cabinet colleague, Tourism Minister Moses Kirkconnell, who predicted a successful […]
Prison rehab pilot project expanding
(CNS): A third prisoner from HMP Northward who is coming to the end of his sentence has joined the Department of Environmental Health’s garbage collection team as part of a joint project of the DEH and HM Cayman Islands Prison Service to place inmates in jobs. Last year the two agencies signed a memorandum of understanding […]
New public safety radio system goes live
(CNS): The new upgraded national Public Safety Radio Communications System became fully operational across all three Cayman Islands when officials flipped the final switch at the West Bay bunker on Wednesday. The upgrade, which began last year, from the old 800 Megahertz radio to the new, modern Motorola P25 system has integrated all public safety radio users […]
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 […]
CIG still waiting on blacklist decision after EU trip
(CNS): After around 13 meetings with various European Union leaders and technocrats, as well as officials from direct member states, the Cayman Islands delegation led by the premier is still waiting to hear whether this jurisdiction has “passed muster” to prevent any more blacklisting. Premier Alden McLaughlin, accompanied by Financial Services Minister Tara Rivers, Attorney […]
OECD reps appear to give thumbs up to Cayman
(CNS): Government has revealed that two high-ranking representatives from the OECD Centre for Tax Policy and Administration were in the Cayman Islands last week, and they appear to have given the jurisdiction a thumbs up over its cooperation and new legislation regarding global tax issues. In a release from the financial services ministry, the centre’s […]
New laws to shake up offshore sector
(CNS): Government has unveiled three new bills that will result in fundamental changes to the way some exempted companies do business in the Cayman Islands. Just weeks before the European Union’s deadline for offshore financial centres to address requirements over what it sees as unfair tax practices in order to dodge the latest black-list, Financial […]
CIG’s Euro trip adds up to $150K
(CNS): The extended trip to Europe in September by the premier, financial services minister, the Maritime Authority of the Cayman Islands (MACI) and a number of other government officials cost the public purse more than $150,000, according to documents released by the various relevant government departments. Premier Alden McLaughlin led a small delegation to Europe […]
Brexit overshadows first day of JMC
(CNS): The first day of the two-day meeting between the British Overseas Territories Joint Ministerial Council and the UK Government in London was overshadowed Tuesday by the UK’s exit from Europe. Not only was Brexit at the top of the agenda at the BOT meeting but it also kept key British ministers away from the JMC […]
Ministry to experiment with fintech regulation
(CNS): The financial services minister has revealed plans by government to experiment with regulation and compliance for the growing fintech sector, in what she described as “an adaptable, technology-neutral, regulatory sandbox-type framework” that will allow CIMA and stakeholders to work out the best solution to safely oversee this area of offshore business. Tara Rivers said new […]
