The Cayman Islands Monetary Authority has announced the promotion of Mr. Langston Sibblies to the post of deputy managing director – general counsel as of 1 August.
As DMD, Mr. Sibblies will have direct oversight responsibility for three divisions: Legal, Policy and Development, and Compliance. He will also assist the managing director with the supervision of matters pertaining to CIMA’s policies and general management.
The appointment follows a reorganisation that has resulted in the creation of three DMD posts, each responsible for a separate set of functions of the Authority.
The other two posts are DMD (Supervision), and DMD (Operations). Appointments to these two posts have not yet been made.
‘Given his contribution to CIMA, Mr. Sibblies is a natural choice for this more senior role,’ Managing Director, Mrs. Cindy Scotland, said, ‘I look forward to working with him within this new structure, which has been adopted to ensure that CIMA is able to continue to increase its efficiency and effectiveness as the financial industry that we regulate expands.’
With over 30 years’ experience in the Caribbean and Canada, Mr. Sibblies’ previous posts have included: crown counsel (Cayman Islands), senior crown counsel (British Virgin Islands), legislative policy counsel (Ontario), director of public prosecutions (Grenada), and executive director of the Cayman Islands Government Portfolio of Finance and Development’s Secretariat.
He has worked as a law editor with a leading Canadian tax and business law publisher and as a private lawyer in Jamaica and Canada.
In his capacity as CIMA’s general counsel, Mr. Sibblies has been responsible for the provision of legal advice to, and assisting in litigation on behalf of, the Authority and the drafting of legal documentation for the Authority. He has represented the Cayman Islands and CIMA in various meetings with regulatory and standard setting bodies such as the Organisation for Economic Cooperation and Development, the Financial Action Task Force, the Caribbean Financial Action Task Force, the International Monetary Fund and International Organisation of Securities Commissions and has delivered relevant papers on the regulation of the Cayman Islands’ financial industry at several local and international forums.
Mr. Sibblies is chairman of the Law Reform Commission of the Cayman Islands.
Commenting on his new position in CIMA, Mr. Sibblies said: ‘I am pleased that I am able to continue to serve the Cayman Islands Monetary Authority in an enhanced role.’