Activities explained

Maples and Calder met with representatives of the United States Government Accountability Office earlier this month as part of the GAO’s investigation into the Cayman Islands financial industry and in particular the business activities of Cayman Islands companies for which Ugland House, which, Maples and Calder occupies, provides registered office services.

Charles Jennings, joint managing partner of Maples and Calder and one of the Maples and Calder team that met the GAO representatives, confirmed that the seven hour meeting had been ‘cordial and constructive’.

He said: ‘Maples and Calder are delighted to have had the opportunity to explain, for the first time, the nature of the Cayman Islands offshore financial industry to representatives of the United States Government.

‘In addition to a core team of representatives at Maples and Calder, specialists in particular areas of the law such as trusts, captive insurance and compliance joined the meeting at various times to explain their particular areas of expertise.

‘As a result, I hope the GAO representatives left the meeting with a clearer impression of the nature of the work that Maples and Calder and the Cayman Islands offshore industry generally undertakes,’ he added.